"The 30-year mortgage has been the American standard for decades, balancing affordable monthly payments with a reasonable repayment period. As home prices soar and interest rates rise, even 30-year mortgages can leave many families struggling with unaffordable payments."
"A 40-year mortgage would lower monthly payments by extending the repayment period and possibly locking in an affordable market rate, making homeownership accessible to a broader segment of the population."
"The 30-year mortgage was a product of the Great Depression when people lived much shorter lives. Today, with life expectancy nearing 80 years, a 40-year term aligns better with modern realities."
"In today's world, one where mortgage rates more than doubled in a short period of time, there almost isn't anything better than 30 years of fixed debt if you've locked-in a low rate of interest."
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