Most people don't think about mortgages. Most people also don't hold them simultaneously. Carry one, sell house, pay off, get another. My wife's parents bought a house in '77. They still live in it. My wife bought a house in '00. We still live in it. We didn't for nine years but boy howdy lemme tell ya: I'd much rather have a 2011 mortgage on a 2000 purchase than a 2018 mortgage on a 2018 purchase.
Those same people are the ones who pick a cat loan based on the monthly payment and not their total cost. I'm still a bit miffed that my last car salesman used the "what monthly payment do we need to make this work" line on me.Most people don't think about mortgages.
https://www.edmunds.com/about/press/auto-loan-lengths-reach-all-time-high-according-to-new-edmunds-analysis.html The average auto loan length reached an all-time high of 69.3 months in June — up 6.8 percent from five years ago.
(June being June 2017)