The Trump administration is floating a plan to help with high costs of homes: 50 year mortgages.
The Director of the Federal Housing Finance Agency wrote on X saying "Thanks to President Trump, we are indeed working on The 50 year Mortgage - a complete game changer."
Now, details have yet to be released about the plan, but the general idea is that a longer fixed-rate mortgage would lower monthly payments, however, this could create a higher total cost because of more total number of interest payments will need to be made.
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