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by maxerickson
4161 days ago
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The majority of US mortgages are fixed rate: http://www.newyorkfed.org/research/current_issues/ci16-8.pdf This is largely an intentional policy outcome, Freddie Mac and Fannie Mae were both intended to make mortgages cheaper (I think an interesting thing is that this doesn't necessarily make buying a house cheaper). It's increased since the recent crisis, part of the US response was to make money even cheaper (which favors locking in the rate). |
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