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How to eSign a document: e-signature legitimacy for Mortgage in Australia

last month and this month when the largest number of fixed rate loans switched to variable rate increasing the repayments on the average mortgage by about two thousand dollars a month it's called the mortgage cliff so this might be a good time to ask how come Australians don't have 30-year fixed rate mortgages like Americans do they know what their rate's going to be for the entire term of the loan so how come we don't have that well the answer can be found almost a hundred years ago by a quirk of Fate when the Great Depression arrived in 1930 Australia had a labor government led by Jim skullen and America had a Republican or conservative president Herbert Hoover any government in power when unemployment goes to 30 is going to be chucked out and so they both were so in 1932 in the depths of the Great Depression Australia got the conservative Joe Lyons and America got the Democrat FDR Franklin Delano Roosevelt in 1938 as part of his new deal FDR created the Federal National Mortgage Association later nicknamed Fannie Mae to buy mortgages from the banks so they could offer 30-year fixed rate loans Joe Lyons did not he died in office in 1939 and was replaced by Bob Menzies who was no more interested in New Deals and 30-year fixed rate mortgages than Joe Lyons was and when Menzies lost to Labor's John Curtin in 1941 we were more in the moment had passed Fannie Mae is still there later joined by Freddie Mac and Ginny May and they provide banks with the liquidity and guarantees needed to lend at fixed rates for 30 years and they are beloved institutions in the United States but we don't have them next to Joe Lyons and Bob Menzies and that's why our fixed rate loans max out at five years and while we've got a mortgage Cliff over which our economy is now driving maybe we could do with a new deal