[rbjorklin]

I think most places outside of the US has fixed term lengths of max 5 years for which you can lock in your interest rate.

[kypro]

Yeah, the US is an outlier. In most countries the government doesn't back mortgage loans so we have to refinance after a few years. Basically every mortgage in countries like Canada and the UK is what the US would consider an "ARM".

[itsoktocry]

Canada's government backs mortgages through the CMHC.

We have shorter term fixed rates, usually capped at 10 years. We also have variable rate mortgages, which are ARM equivalent.

[red-iron-pine]

yeah common in Canada. Generally 5 year. House is amortized over 25 but you basically renew the loan every 5 years.

US-style 15 and 30 year are unheard of. Kinda glad I didn't buy during COVID cuz I'd be getting slammed now...