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Housing market affordability is so bad that Zillow says it will take you 13.5 years to break even on a purchase from July onward(finance.yahoo.com)

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return2ozma@lemmy.world
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aboringdystopia@lemmy.world
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uranibaba@lemmy.world
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Could be fixed rate that expired and had to be renewed, but with a new rate.

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Alexstarfire@lemmy.world
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In the US a fixed rate does not expire. At the end the loan has been repaid. I do not know of they are in the US.

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uranibaba@lemmy.world
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How does that work? You take a loan, negotiate a rate (say 3%) upfront, and you have this rate as long as the loan is not payed?

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Alexstarfire@lemmy.world
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Yes, though I’m not sure what you mean by not paid. You have monthly payments for the loan.

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