The banks seldom want to offer 30 years fixed rate mortgage.

 

They are more willing to offer you viable rate for long term home loan.

 

The risk to the bank is that when the interest rate rises, they will lose out on the earnings.

 

If you happen to get a 30 years fixed rate mortgage at 3% interest per year, you are lucky.  When the interest rate increases to 6%, the bank cannot force you to pay more money in interest.

 

That is why if at all possible, make use of the low interest rate now to get a fixed rate home loan.

 

Never get a variable interest rate loan, since there will be years in the future where the interest rate will hit the roof.

 

Practically every country has a period when interest rate hits 10% or more.

 

Even though it is just for a few years, and the interest rate decreases again, the pain of the home owners are evident.