I was reading an article in the Süddeutsche today and it says most Americans have variable rate mortgages. Really? I thought most had fixed rate mortgages. But that's what I learned in freshman year economics, before variable rate, no down payment mortgages became all the rage. Does anyone know what the actual numbers are? Just wondering.
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Most Americans have fixed or variable mortgages?
- Thread starter jng
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Of course most americans would have variable rate mortgages, because it enables them to have the house that they want right now. They don't care about later on when they won't be able to afford it because the rate jumps from 4% to 11%.
It's just fitting for our culture.
It's just fitting for our culture.
I'm looking for hard numbers, like x% have fixed rate mortgages and y% have variable rate mortgages.
Basically, I'm looking for verification, not analysis. Did a quick google search and nothing came up. And my econ text books are all in the US. Was hoping someone where maybe knows the numbers (or a source like Census) off the top of their head.
Basically, I'm looking for verification, not analysis. Did a quick google search and nothing came up. And my econ text books are all in the US. Was hoping someone where maybe knows the numbers (or a source like Census) off the top of their head.