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Re:How this Ends by rwmj on Thursday February 18, 2021 @07:30AM (#26179047)
In the USA it's apparently common, but seems unusual everywhere else. In the UK, 5 years is the maximum and 2 years is more common. People rely on rolling over the mortgage to a new fixed-rate offer, but that can be problematic as it's not guaranteed that good offers will be available after the fixed term, and as many found out in 2009, it's not guaranteed that fixed rate mortgages will be available at all. Also it costs a ton of money and time to roll over the mortgage because you're essentially buying the house all over again.
Re:How this Ends by rsync on Thursday February 18, 2021 @04:11PM (#26185598)
"In the USA it's apparently common, but seems unusual everywhere else."

It's not just common in the US, it is the de facto standard across almost all mortgage types and sizes. Even weird, non-conforming properties with "jumbo" sized loans can get fixed at 30 years.

Also, I will point out that in both Switzerland and the Nordic Countries, 40 and 50 year mortgages are now in very common use:

"Repayment periods in Switzerland can be incredibly long, with deals lasting between 50 and 100 years being relatively common."[1]

"Swedish regulators calculated in 2013 that the average mortgage term was around 140 years."[2]

In fact, now that I think about it, I am surprised that the US culture of "financial innovation" has not produced more standardized long-duration mortgages ... I do not know anyone, for instance, with a 40-year term ...

[1] https://www.expatica.com/ch/housing/buying/your-guide-to-swi...

[2] https://www.thelocal.se/20160324/sweden-limits-mortgage-loan...

Re:How this Ends by spacedcowboy on Thursday February 18, 2021 @08:20AM (#26179480)
You can get 10-year fixed in the UK {1], and even that limit is surprising to me. I thought 20-year fixed was available (pretty sure it used to be) but apparently no more...

[1] https://moneyfacts.co.uk/mortgages/10-year-fixed-rate/

Re:How this Ends by throw0101a on Thursday February 18, 2021 @09:13AM (#26179988)