Dramatic shift comes after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers
Yeah, there is a bigger push since most those countries are variable rates for more of their sectors. Their interest rates are always quicker to adjust. I’ve been paying 2.4 on my home and .4 on my car for the past 3 years. I’m just not getting new credit.
Consensus is that the variable rate model is overall cheaper but the fixed rate model reduces risk and encourage growth.
I’ll wait a year or two for the rates to fully catches l catch up and enjoy not having my mortgage payment jumped up $600 for the past 3 years tyvm.
Right. A lot of European countries use ARMs a lot more. The only other country where 30-year fixed is the norm is Denmark, as far as I know. But Europe just generally has lower interest rates.
Yeah, there is a bigger push since most those countries are variable rates for more of their sectors. Their interest rates are always quicker to adjust. I’ve been paying 2.4 on my home and .4 on my car for the past 3 years. I’m just not getting new credit.
Consensus is that the variable rate model is overall cheaper but the fixed rate model reduces risk and encourage growth.
I’ll wait a year or two for the rates to fully catches l catch up and enjoy not having my mortgage payment jumped up $600 for the past 3 years tyvm.
Right. A lot of European countries use ARMs a lot more. The only other country where 30-year fixed is the norm is Denmark, as far as I know. But Europe just generally has lower interest rates.