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A Huge Number of Homeowners Have Mortgage Rates Too Good to Give Up (www.nytimes.com)

submitted 2 years ago by GiddyGap@lemm.ee to c/news@lemmy.world

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[–] GloriousGherkins@lemmy.world 8 points 2 years ago (2 children)

I haven’t heard of having to renew mortgage interest rates. A fixed interest rate should be good for the life of the loan.

I’m at 2.875% on a 25-year loan. I never plan on moving.

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[–] bluGill@kbin.social 3 points 2 years ago (1 child)

Depends on where you live. Odds are most people reading this are in the US or Canada where fixed interest rates for life of the loan is common, though you can get an ARM. However in many other countries you cannot get those loans, and those people have to renew every few years.

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