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by dzdt 3212 days ago
In the US, the most standard "fixed rate" mortgage has the rate fixed for 30 years. A mortgage where the rate changes before loan maturity would be called an "adjustable rate mortgage" ("arm" for short).
1 comments

Aren't we only talking about a difference in term length then? i.e. it's more common for the term length to equal the amortization length in the U.S.? In Canada even the amortization/maturity can't be greater than 25 years. And terms are commonly 5 years.
We can quibble about terminology but it sounds like a system wildly different from the US one, where most people have 30-year, fixed-rate mortgages.