15 and 30 year fixed rate mortgages in the USA!

empi_uk

So here I am looking at mortgage products and twitching at the prospect of rate rises or price drops or continues price rises. Umm the states are in trouble but only in the sub prime lending market! Everyone else is ringfenced from the recent rate rises. I had read with a good credit record the mortgage offers actually support family home buying. Fancy a 15 year fixed rate or maybe a 30 year fixed so you never have any surprises for the term of the loan! Ahh well what about all the lock in penalties and extra charges! Think again 60 day lock in !!!!!!!!!!!! So you can even change your rate when rates drop and refinance again for a 15 to 30 yr fixed rate!!!!!!!

Mortgage Rates
Fixed Rate Loan Programs
All Rates Effective 3/13/2007
Name Rate Points APR Lock
15 Year Conforming 5.750% 0 5.896% 60 days
30 Year Conforming 6.000% 0 6.149% 60 days

So rip off Britain?? Or just the USA being a massive market and this is what consumers demand as value! Or is it about an attitude to house purchasing V's investments.

What do you think would these sort of products help the property ladder in the Uk. Close the gap between have's and have not's?

My personal opinion .... I would take one out tomorrow and buy a home and not worry about, rate rises, housing crashes, price inflation... I would just sleep soundly at night.

Empi