<prompt> Human: From what Ive seen, it seems that 90 of the US mortgages are either 15- or 30-year mortgages with 5- and 10-year adjustable rate mortgages making up the majority of the rest.Why are the choices for American homebuyers so limited?In Israel, one can choose from a variety of mortgage components. Fixed rates, variable rates that change every 1, 2, 5, 10 years, rates that are linked to the national bank interest rate similar to Federal Reserve rate, rates that go up and down in accordance to the USD or Euro, and more. Even the average homebuyers combine 3 or avenues when choosing a mortgage 13 of the mortgage in each avenue for example. Many people take 5 or more avenues and its extremely rare to just take one. You can choose however many years youd like in each avenue and combine at will.How is this not a thing in the US of all places? How is it in other countries?  <response>: The US puts its mortgages into two broad categories:A Conforming, or in compliance with mandates set by the federal government. These might be 71 ARMs, or more commonly 15-year or 30-year mortgages. Because the mortgages are backed by the US government, the interest rate is very low. Very basic info hereB Non-conforming, or everything else. This is where the more exotic products come in, like interest-only loans, 40-year loans, zero-down loans, balloon loans, etc. These are typically used by investors or holding companies with significant net worth. Back in 2008 you saw more of these as investors chased yield, but that market has - thankfully - not come back yet.For the vast majority of people that just need a house, the conforming loan products will be preferable. 