What is the Purpose of "Fixed Rate" When it Comes With a "Rate Review"? (mortgages, banks) - Economics

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What is the Purpose of "Fixed Rate" When it Comes With a "Rate Review"? (mortgages, banks)

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12-02-2008, 10:06 AM

Shwa

516 posts, read 1,939,317 times

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I'm looking at commercial mortgages and learning that most, if not all, banks offer "fixed rates" but then have "rate reviews" after 5 years. Isn't that the same thing as a "variable rate"?

Does anyone know if there are any banks out there that offer rates that are truly fixed for commercial mortgages?

Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

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