"AI Summary Trump on Saturday posted an image on social that seemed to suggest he would be proposing 50-year mortgages, something FHFA Director Bill Pulte confirmed shortly after on X. The image Trump posted on Truth Social features a head shot of President Franklin Delano Roosevelt under the title 30-year mortgage, and his own head shot under a title of 50-year mortgage."
"The president has been focused on the issue of housing affordability throughout his term, leading off on inauguration day with an executive order for emergency price relief in housing. He has also pressured Federal Reserve Chair Jerome Powell to lower interest rates and launched investigations against Fed members and tried to fire them to try to achieve lower rates."
A proposed 50-year fixed-rate mortgage would lower monthly principal-and-interest payments compared with 30- and 40-year terms while slowing homeowners' equity accumulation. The FHFA indicated work is underway after a social post showing 50-year versus 30-year mortgage imagery, but official details and a White House press release are not available. The president has prioritized housing affordability and has pursued executive actions and pressure on the Federal Reserve to influence rates. Sample calculations using a 6.575% rate and 20% down show materially lower monthly payments on longer terms, excluding taxes and insurance and assuming identical rates.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]