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Wrong. Fixed rate loans in the US usually don't have break costs (or pre-payment penalties as they are described in the US). To the extent they do apply they are an option a client will take to get a lower rate. Also, they tend to be structured like Deferred Establishment Fees , can be...

Being on a fixed rate in the US doesn't have the same implications are here. The sort of economic loss provisions that lock people in here in Oz don't exist under the US funding regime. You can jump in and out of a fixed rate as easily as a variable one. It's one of the reasons fixed rates...