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A comment on Mortgage rates soar to their highest level in 21 years. Parent comment

Re:Mortgage rates soar to their highest level in 21 years by pxx on Thursday August 17, 2023 @03:26PM (#37166702)
The 30 year fixed mortgage is a product that gets massive implicit government subsidies. It is a terrible deal for the American taxpayer. Note that this product is simply not available elsewhere in the world.

Are you trying to claim it's a bad deal for the mortgagor? That is a claim that's going to require quite a lot of evidence.

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Re:Mortgage rates soar to their highest level in 21 years by i_am_programmer on Thursday August 17, 2023 @04:15PM (#37167320)
That's wrong, long term exist rates exist all over Europe. France has very popular 20 year fixed mortgages at great low rates, 30 years are not uncommon. Before recent inflation causing rate hikes, you could access interest rates between 1% - 3% for these types of deals
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Re:Mortgage rates soar to their highest level in 21 years by tomekf on Thursday August 17, 2023 @05:04PM (#37168028)
Can confirm. I have 30 year fixed at 1.2% here in Spain
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Re:Mortgage rates soar to their highest level in 21 years by pxx on Thursday August 17, 2023 @05:23PM (#37168301)
I fixed the wording to be more clear about what I meant. These are also often subsidized products.

Long-term fixed rate is still a relative rarity globally, especially in the US style where there are no prepayment penalties. France is a notable exception, as specified in https://business.sdsu.edu/research/_files/_realestate/intern... , but still doesn't have the prepayment-penalty-free nature (though prepayment penalty amounts are capped by law).

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Re:Mortgage rates soar to their highest level in 21 years by hsjqllzlfkf on Friday August 18, 2023 @04:22AM (#37172739)
Just to double check, are you sure those 30 year are fixed?
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Re:Mortgage rates soar to their highest level in 21 years by J_cst on Friday August 18, 2023 @08:30AM (#37174737)
I have a 25y mortgage at 1.28 fixed. I accessed it less than 3 years ago. Italy
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