The White House says it is considering a 50-year mortgage to address the home affordability crisis.
NEW YORK(AP) — The White House says it is considering backing a 50-year mortgage to help alleviate the home affordability crisis in the country. But the announcement drew immediate criticism from policymakers, social media and economists, who said a 50-year mortgage would do little to resolve other core problems in the housing market, such as a lack of supply and high interest rates.
Bill Pulte, director of the Federal Housing Finance Agency, said on X over the weekend that a 50-year mortgage would be “a complete game changer” for homebuyers.
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