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Trump has proposed a new 50 year mortgage for home owners which has caused outrage amongst people. President Donald Trump proposed extending mortgage terms to 50 years to lower monthly payments for young homebuyers amid median home prices of $420,000 and 6.5% interest rates. Federal Housing Finance Agency Director Bill Pulte confirmed the administration's efforts on the plan, which could reduce payments by 10-15% on a $400,000 loan but increase total interest paid from $463,000 to $863,000. The idea has sparked conservative concerns over long-term debt burdens and Democratic fears of a 2008-style financial crash, while some see it as a viable alternative to rising rents.
