>>>>>Laying blames is exclusively your business so don't peddle it around. FYI, great majority of US homeowners take fixed-rate mortgages.
>>>>
>>>>In Norway more or less nobody has fixed interest mortgages, because statistics over many, many years have shown that it's cheaper in the long run with "variable" interest. I am pretty sure the same is valid in the rest of Europe.
>>>
>>>You could be right, but press, at least here, always blames (sorry, for the word :) exotic (i.e. adjustable etc.) mortgages for homeowner failures i.e. foreclosures. It is also traditional in States, as far as I know, to take fixed-rate. I am unsure about statistics, but, in general, imo, adjustable is still a gamble that rates will go down.
>>
>>Fixed rate is a gamble that rates will go up.
>
>It is, probably, attitude dependent :).

I don't know about Norway, but the variable rate mortgage we have appears to be a completely different sort of thing than your adjustable rate mortgage, if the way Tracy explained it to me is accurate. See my note to Dorris about this - message #1361819