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  1. – With the 30 year fixed rate mortgage, the interest rate remains the same from day one, meaning borrowers can depend on the same bill amount from month to month and year to year. For the 30-year term, borrowers pay down the principal, or actual loan amount, along with unchanging interest amount on the mortgage.

    30-Year Fixed-Rate Mortgages Since 1971 – Freddie Mac – Monthly Average Commitment Rate And Points On 30-Year Fixed-Rate Mortgages Since 1971