not_IO@lemmy.blahaj.zone to Political Memes@lemmy.worldEnglish · edit-21 day agoinsane if truelemmy.blahaj.zoneimagemessage-square56linkfedilinkarrow-up1745arrow-down128file-text
arrow-up1717arrow-down1imageinsane if truelemmy.blahaj.zonenot_IO@lemmy.blahaj.zone to Political Memes@lemmy.worldEnglish · edit-21 day agomessage-square56linkfedilinkfile-text
minus-squareExtantHuman@lemm.eelinkfedilinkarrow-up11arrow-down1·2 days agoFixed rate mortgages have been standard in the US since the 1930s
minus-squareMNByChoice@midwest.sociallinkfedilinkarrow-up7arrow-down2·1 day agoVariable rates are still available and common. They tend to be slightly lower rates than fixed rate mortgages due to volatility risks. I interpreted their remark to be more about the fixed rate though. The $20,000 house could have a 20% fix interest loan. They did say “shooting up”, so maybe they are presuming variable rate mortgages.
Fixed rate mortgages have been standard in the US since the 1930s
Variable rates are still available and common. They tend to be slightly lower rates than fixed rate mortgages due to volatility risks.
I interpreted their remark to be more about the fixed rate though. The $20,000 house could have a 20% fix interest loan.
They did say “shooting up”, so maybe they are presuming variable rate mortgages.