From the Daily Caller comes, the Trump administration will introduce 50-year mortgage terms to help Americans buy homes. We truly hope this is nothing more than a trail balloon much like making Canada the 51st state. For any Conservative this is a terrible idea that simply creates a short term lower loan payment while creating a boon for real estate companies and banks. The interest payment on a 50 year mortgage would be twice the rate of the principle.
The Trump administration will introduce 50-year mortgage terms to help Americans buy homes, a top housing official confirmed Saturday.
Federal Housing Finance Agency Director Bill Pulte said his agency is “working on” the longer loan option after President Trump hinted at the plan on X.
“Thanks to President Trump, we are indeed working on The 50 year Mortgage – a complete game changer,” Pulte said in the post.