Warren Buffett, the chairman of Berkshire Hathaway, has argued that the 30-year fixed mortgage is one of the most advantageous financial instruments available to ordinary homebuyers, not just because of the convenience of having a 30-term mortgage. He believes that a 30 year mortgage is an effective financial instrument for homeowners, as it offers a one-way renegotiation. The logic behind this strategy is structural, with a homeowner locking in a rate for 30 years if rates fall later, the loan can be refinanced into a lower rate if rates rise, the original rate stays intact. Buffett's strategy allows him to keep money available for other uses while allowing fixed-rate borrowing to perform the heavy lifting on the real estate side. He also highlights the inflation dimension of his mortgage philosophy, which allows fixed debt to become cheaper to service as wages and prices rise. The current current 30 year fixed mortgage rate is approximately 3.6%, according to Benzinga.