• GloriousGherkins@lemmy.world
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    8 months ago

    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.

    • bluGill@kbin.social
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      8 months ago

      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.