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Re:British pound hits record low against the dollar by 0xffff2 on Monday September 26, 2022 @02:50PM (#32986765)
It's a seemingly rare case where the US terminology makes more sense than the rest of the world. In the US, a "fixed" mortgage is a fixed rate for the entire term of the loan (usually 30 years). Anything else is called an ARM (adjustable rate mortgage), even if it has a fixed component (e.g. a 5-year ARM has a fixed rate for 5 years and then becomes adjustable for the remainder of the term).

As I understand it, what the US considers a fixed rate mortgage simply doesn't exist in most countries, so it makes some amount of sense that the term "fixed" gets used for the next closest thing.

Re:British pound hits record low against the dollar by xtracto on Monday September 26, 2022 @04:41PM (#32988071)
Here in Mexico we have the same: A fixed rate for a mortgage is the rate you will pay for the 20-30 years that your mortgage lasts. Of course over here, the cheapest rate you will historically find is around 7%.
Re:British pound hits record low against the dollar by bestouff on Monday September 26, 2022 @04:17PM (#32987775)
Same in France. So if we agree with the US there's a chance we're right ...