Trump just floated a 50-year mortgage. Is that a good idea?
Housing Market,Mortgage Rates,Donald Trump,Affordable Housing
Most first-time homebuyers in the United States take out 30-year mortgages. Under a new proposal from the Trump administration, they may soon have an even longer loan option.
This week, President Donald Trump introduced a new idea to tackle home affordability: a 50-year mortgage loan. Federal Housing Finance Agency Director Bill Pulte called the proposal “a complete game changer.”
While Trump’s proposal is light on details, administration officials say a 50-year mortgage would lower monthly payments, helping more Americans currently priced out of the market.
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