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?
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Also in The Netherlands it’s possible to lock in your mortgage interest rate for up to 30 years. And most home buyers do in fact take a 20 or 30 years lock in
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