[saulpw]

Interest rates for home-ownership are a ratchet, though. If they ever go down (and they do fluctuate over the course of decades), and you are financially stable (this may or may not be the case at the right time) you can generally refinance to lock-in the lower rate.

[__turbobrew__]

That only applies to mortgages in the US for the most part. Everywhere else you only finance for 3-5 years at a time.