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insane if true (lemmy.blahaj.zone)

submitted 2 days ago* (last edited 1 day ago) by [email protected] to c/[email protected]

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[–] [email protected] 5 points 2 days ago

Variable rates are still available and common. They tend to be slightly lower rates than fixed rate mortgages due to volatility risks.

I interpreted their remark to be more about the fixed rate though. The $20,000 house could have a 20% fix interest loan.

They did say "shooting up", so maybe they are presuming variable rate mortgages.