we locked in a 4.5% fixed interest rate on a 30-year mortgage
Here in the UK, I'd seriously give up one of my gonads for a deal like that. There are almost no fixed deals over 10 years and the only 30 year one I heard of requires 30% down and is about 6%. Instead, we're trudging on with 2 year fixes combined with prayer the interest rates don't skyrocket ;-)
Unfortunately Iceland provides 1001 horror stories about doing that sort of thing ;-) (take out "cheap" mortgages in Euro, profit, currency takes a dive, oops..)
Here in the UK, I'd seriously give up one of my gonads for a deal like that. There are almost no fixed deals over 10 years and the only 30 year one I heard of requires 30% down and is about 6%. Instead, we're trudging on with 2 year fixes combined with prayer the interest rates don't skyrocket ;-)