not just the yanks, I have a mate from france I caught up with earlier this week who could not comprehend how a home loan had a variable rate. She thinks we’re all insane.
Comment on Australia took its interest rate medicine – and it has poisoned our living standards | Greg Jericho
zero_gravitas@aussie.zone 21 hours agoIn the US, the vast majority of mortgages have a fixed rate over decades.
90% of mortgages are fixed-rate for 30 years according to this page: mortgagecalculator.org/…/how-many-years-mortgage-…
I don’t know the details of how that works, but yeah, it’s possible for the vast majority of home borrowers to be on fixed rates.
Taleya@aussie.zone 19 hours ago
ryannathans@aussie.zone 14 hours ago
Fixed rate for the entire term? Fascinating
Aussiemandeus@aussie.zone 5 hours ago
That’s a good deal if you get s good deal.