President Donald Trump over the weekend slipped a missive into a Truth Social post that may well change the way many consumers buy a home—but experts are not sold on the idea.
On Nov. 8, the President announced the proposal in a post titled “Great American Presidents,” which included the words “50-year mortgage” above a photo of himself and “30-year mortgage” over a photo of President Franklin D. Roosevelt. In response, the head of the Federal Housing Finance Agency, Bill Pulte, said the agency would consider the matter, calling the President’s tacit proposal a “complete game changer” for affordability.
A 50-year mortgage product would ostensibly allow those with a smaller monthly housing budget to enter the housing market,…