Housing director confirms administration 'working on' 50-year mortgage after Trump hint

[douglas9]

Federal Housing Finance Agency (FHFA) Director Bill Pulte on Saturday said the Trump administration is “working on” a plan to introduce 50-year mortgage terms for home buyers.

“Thanks to President Trump, we are indeed working on The 50 year Mortgage – a complete game changer,” Pulte wrote in a statement on the social platform X.

It followed a Truth Social post by President Trump earlier in the day where he shared a graphic juxtaposing an image of him next to one of former President Franklin D. Roosevelt. The administration that oversaw the New Deal established the 30-year mortgage standard to help citizens recover from the Great Depression.

Similarly, Trump campaigned on creating affordability for the younger generation last year, but the president has faced headwinds on the subject more recently as prices rise.

Google searches for “help with mortgage” recently climbed to their highest level since 2009, while adjustable-rate mortgages, or ARMs, have also been trending. ARMs made up about 10 percent of all mortgage applications in September — the highest share in nearly two years and well above the post-2008 average of 6 percent, according to the Mortgage Bankers Association (MBA).

https://thehill.com/homenews/administration/5597005-trump-administration-50-year-mortgage/

[DemMedic]

1. To keep people in perpetual debt

n/t

[Irish_Dem]

2. Debt traps are an excellent way to control and impoverish people.

[Liberal In Texas]

3. Permanent renters

Or, if you're lucky to get a house when you're 25 you will own it when you turn 75.

Insane.

[tanyev]

4. Yep, renting with the additional burden of property taxes and repairs/maintenance.

Why would anyone opt for that?

[Liberal In Texas]

5. I suppose the sales pitch will be for younger people to be able to get a house now and

then later when they've got a better job or inherited from Uncle Scrooge they can refi at a lower term.

That'll be the pitch. In reality people that do this may never be able to refi because the job advancement just won't be there.

[Bettie]

6. Well, as long as you NEVER

have to move.

[Yo_Mama_Been_Loggin]

7. Seems a trend

We have eight year car loans now.

[leftstreet]

8. Where's my $2k check?

[LetMyPeopleVote]

9. This is another stupid trump idea

[Vinca]

10. Can you imagine that? You could end up with a mortgage until you draw your last breath.