[jeezfrk]

Fixed rate loans have existed forever.

Private contracts are constantly filled with them. It's private enterprise cashing in as usual for those with the best credit.

Not government intervention.

[supertrope]

Without Fannie Mae and Freddie Max interest rates on 30 year mortgages would be higher or everyone would have to use an ARM. On most mortgages the bank just follows these government associated agencies’ underwriting rules and immediately sells the mortgages to them.