Fixed rate mortgages have the same interest rate for a set period of time, usually two to five years. However, a set rate for ten or even twenty years is achievable. Keep in mind, however, that a long fixed rate can have a number of drawbacks.
Unless you lock in your rate when the base rate is exceptionally low, your fixed rate may wind up costing significantly more than the variable rate. So, before you sign up for a long-term fixed rate, consider twice