not really. if house mortage in US is of "fixed rate", for 30 years its something really strange for me and first time I hear about something like that.
Usually your monthly mortage to the bank depends on current interest rates, which - if they change - get updated every 3 or 6 months.
but 30 years fixed interest rate for house mortage ?
wow , thats really interesting. so lets say that you borrow 500,000 dollars for 30 years with steady 2 %, and later its always like that ? regardless, if, lets say -> FED interest rates will be 8 %/ yearly 4 years later ?
if its true, then its truly amazing....and I wonder how the banks make themselves up for it...with other high fee ? or what ?
unless you make agreement with the bank that for example you will ALWAYS pay 5 % of interests/ yearly, and now, for example these rates are around 2 %....
its not the case of Central, Eastern or Western Europe. its just common sense.
just look at the amount of homeless people in Spain - which isnt FSU at all, who after some time stopped paying their monthly due to the bank... and now live on the streets
disaster can happen everywhere, common sense is to avoid it
Quote:
Originally Posted by Sid70
That's understood. In Russia, and other FSU countries, people experience currency devaluation, political and economic stress each 5-10 years on a scale that is any near standard fixed rate, shit hits the fan real hard and you can't really plan ahead much, more, the financial markets are not fully available to the investors.
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