No. of Recommendations: 0
'To clarify, and you can get a 30 year amortization, but mortgage terms are typically 5 years at a time.
You can get a 30-year fixed rate term, but you will pay through the nose for it. A quick Google search shows a rates of 7.05%.' That is what my Canadian friends told me. The question is, how many homeowners outside the US have 30 year fixed rate mortgages, below 4 percent, fixed for the life of the loan? Sadly, for the past few years, American idiots have been offered , creative mortgages, again. You can bet taxpayers will be expected to bail them out in bulk, this time. Little down, Interest only or teaser rates for 2-3 years should be outlawed.
