Iowa Bankers Association Iowa Bankers Insurance & Services, Inc.
Iowa Bankers Association
8800 NW 62nd Avenue
Johnston, IA 50131
Toll-Free: 800-532-1423
Local: 515-286-4300
Fax: 515-280-4140

Why Do We Have a 30-Year Mortgage, Anyway?

:Why Do We Have a 30-Year Mortgage, Anyway?

Of course, you can still get 5-, 15-, and 20-year mortgages, if you can afford the higher monthly payments. And plenty of people still choose adjustable rates. But according to the Mortgage Bankers Association, the 30-year fixed is so ingrained in the home-buying system, it made up 88 percent of applications last month.

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