I have the maximum collar on our loan of 10 years, then it moves to variable. I didn't realise most of the home loans in the US were fixed like that. Makes a difference to house prices too. In Sweden the prices are high as they have 100-year loans.
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They kind of cracked down on a lot of those variable rate things after the housing bust back in 2008 or whenever it was. Whenever I am looking for a loan I always look for a fixed rate and I always try to make sure there isn't a penalty for paying it off early.