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by matthewmacleod
3211 days ago
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The UK. The mortgage market is different; terms are rarely 30 years, but rather homes are often refinanced every 2-5 years for a fixed mortgage rate, which reverts to a higher variable rate after that period. Of course, this means that if interest rates suddenly spike then my mortgage payment will go up. But it does mean that in the short term it would not make sense to pay more off. |
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