“The 30-year fixed-rate mortgage is a uniquely American construct” analyst says. Here’s why

PUBLISHED TUE, MAY 7 202410:39 AM EDTUPDATED TUE, MAY 7 202412:34 PM EDT

By: Ana Teresa Solá

Most U.S. homebuyers taking out a mortgage opt for a 30-year fixed-rate option — but they may not realize how unusual that offering is.

“The 30-year fixed-rate mortgage is a uniquely American construct,” said Greg McBride, chief financial analyst for Bankrate. LEARN MORE…

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