Demystifying Mortgage Amortization: How Mortgage repayments Pay off Mortgages What’s a 30-seasons repaired rate mortgage? A thirty-year repaired speed mortgage is a type of mortgage from inside the that the interest rate remains the same for the lifetime of the borrowed funds, typically thirty years. A fixed rates mortgage also provides stability, while the monthly payment remains the same, no matter if rates increase in tomorrow. As with any mortgages, fixed rates mortgage loans are amortized, and thus he’s paid…