US EditionTrump Defends 50-Year Mortgage Plan, Calling it ‘Not a Big Deal’
- Over the weekend, President Donald Trump posted on Truth Social about a 50-year mortgage and downplayed backlash, saying it's `not even a big deal` and lowers monthly payments.
- Bill Pulte, Director of the Federal Housing Finance Agency, pitched the 50-year mortgage at Palm Beach Golf Club, Florida using a 3-by-5 posterboard, and FHFA said it was `working on` the option.
- Using standard assumptions, analysts calculate monthly payments fall from $2,288 on a 30‑year loan to $2,022 on a 50‑year loan with a 10% down payment, but AP analysis warned lifetime interest can rise dramatically and homebuyer equity accumulation slows significantly.
- Legal experts warn that White House advisers criticized the proposal, noting Fannie Mae and Freddie Mac cannot insure loans over 30 years, requiring congressional action.
- Housing experts note `The problem is the lack of supply and the lack of supply is due to regulation, which is a way of saying it's just easy to stop development in the United States`, said Gyourko.
77 Articles
77 Articles
‘Totally Out of His Depth’: Trump Bluffs His Way Through a Serious Question — Then Botches One Simple Fact So Badly Even the Host Can’t Hide Her Annoyance
President Donald Trump looked completely lost when pressed to explain a policy he should’ve been able to rattle off in his sleep. But instead of projecting confidence, the president fumbled through basic facts — and even the usually friendly Fox News host across from him appeared visibly irritated as she tried to steer him back to reality. U.S. President Donald Trump delivers remarks during the signing ceremony for the “Fostering the Future” exe…
Professionals chime in on the proposed 50-year mortgage plan
(WWAY)–Prices on new homes throughout the cape fear region have skyrocketed in recent years. Speaking on FOX News, the President’s idea would extend the length of a loan up to twenty years “All it means is you pay less per month. You pay it over a longer period of time.” said President Trump. Berkshire Hathaway’s, Jennifer Richardson, says a longer loan has its risks, but the idea could be the difference between someone getting a home or not. “A…
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