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Fox Business host on Trump’s 50-year mortgage proposal: ‘I do not like this idea’
The Trump administration seeks to lower monthly payments with 50-year mortgages, but experts warn of nearly doubling total interest and slower equity growth, according to an AP analysis.
- On November 6, President Donald Trump shared a Truth Social graphic comparing FDR's 30-year mortgages to a proposed 50-year plan, and William Pulte confirmed the administration was working on it.
- With mortgage rates hovering between 6 percent and 7 percent, the U.S. housing market faces an affordability crisis caused by low supply after post-crisis building declines and rising construction costs.
- At the same interest rate, Joel Berner warned `the drawbacks are that a 50-year mortgage results in almost double the interest payments of a 30-year mortgage and a longer path to meaningful home equity`.
- Experts reacted on Monday, saying the proposal is an extreme solution that sparked criticism, and Pulte responded on social media that the agency 'heard' critics and considers it one tool among many.
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Trump defends 50-year mortgages as affordability crisis grows | Honolulu Star-Advertiser
WASHINGTON >> President Donald Trump downplayed possible 50-year mortgages as a way to make houses more affordable than typical 30-year loans, as some supporters balked at a plan that would have homeowners paying more in interest and taking longer to build equity.
·Honolulu, United States
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Coverage Details
Total News Sources50
Leaning Left8Leaning Right10Center24Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 19%
C 57%
R 24%
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