[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.