Fixed-Rate Mortgages Shield U.S. Homeowners from Global Rate Spikes
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Fixed-rate mortgages shield U.S. homeowners from rising rates, unlike variable rates common overseas.
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Central bank rate hikes hit household budgets faster and harder in countries like Australia and the UK.
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The 30-year fixed rate is unique to the U.S. and encouraged by government policy.
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Mortgage costs as a share of income barely budged for U.S. households versus doubling overseas.
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The 30-year fixed rate insulates U.S. homeowners from economic volatility.