> On my end I think the term mortgages are great since I believe it leads to lower overall interest rates.
When rates are going down, yes.
But locking in low rates in the United States for 30 years either at purchase time or via refinancing is one of the weirdest advantages of home ownership here. It's surreal to have a 2.x% mortgage locked in for decades when rates are quickly going up and inflation is reducing the relative value of my debt and payments.
When rates are going down, yes.
But locking in low rates in the United States for 30 years either at purchase time or via refinancing is one of the weirdest advantages of home ownership here. It's surreal to have a 2.x% mortgage locked in for decades when rates are quickly going up and inflation is reducing the relative value of my debt and payments.