First, not all mortgages have fixed rates. Second, for those that do, the rationale is that mortgages (unlike student loans) are secured by collateral. In other words, if you default on the mortgage, the creditor gets the real estate against the equity of which you have borrowed. That makes a mortgage less risky, from the creditor's point of view, than a student loan.But I feel your anxiety. I am also kind of worried about the prospect of rising rates. Especially since I'll be borrowing about $87,000 over the course of three years!