Hi I was listening to a pod cast and they mentioned how Americans can lock in a mortgage interest rate for 30 or 15 years. In canada you can lock in a rate from 1 to 10 years but the average is 5 years. Also US banks will offer lower interest rates for the entire term of the mortgage. Aren’t the banks losing out on potential future profits doing this?
In: 40
Wait…
Am I at 51 years old and having bought 4 houses and sold 3 just learning today that there are first world housing markets out there where a fixed-rate mortgage isn’t even a thing?
I’m about to go curl into bed and spoon my 3.3% 30 year fixed.
Latest Answers