5 ms·
US mortgages are unique I believe. Canada does 5 year fixed and you refinance at the current rate. I believe the US mortgages work because of Fannie Mae/Mac an
by throwawaybbq1 3y ago
US mortgages are unique I believe. Canada does 5 year fixed and you refinance at the current rate.
I believe the US mortgages work because of Fannie Mae/Mac and a market in mortgage backed securities ( MBOs? I thought they caused the 2008 crisis but I think they are still a thing with better risk management, I dunno?).
- sandydan 3y agoIt’s not, my primary option when buying in France was 10-20 year fixed I assume there are a good deal more countries with that sort of market
- pessimizer 3y agoIt was auction-rate mortgage backed securities that triggered everything. If you see those start showing up again, know we're heading for an awful place.