In early November 2025, a proposal for introducing 50-year mortgages in the United States surfaced unexpectedly, stirring some controversy within the Trump administration. The idea was initially brought forward by Bill Pulte, the head of the Federal Housing Finance Agency (FHFA), during a weekend meeting with former President Donald Trump at Mar-a-Lago. The FHFA is a key regulatory body overseeing major housing finance entities like Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, which play crucial roles in providing liquidity and financing for homebuyers and community investments.
According to multiple sources familiar with the matter, the 50-year mortgage proposal was not fully vetted or prepared for public announcement before being shared. Over the weekend, after Pulte presented the idea to Trump, the former president approved a post on his social media platform, Truth Social, promoting the concept. The post featured a banner titled “Great American Presidents” with images of Franklin D. Roosevelt and Trump side-by-side. Roosevelt was associated with the traditional 30-year mortgage, while Trump was linked to the new 50-year mortgage idea.
The post went live at 1:10 p.m. on Saturday, and shortly afterward, Pulte reposted it on X (formerly Twitter), calling the 50-year mortgage a “complete game changer” and a “potential weapon in a WIDE arsenal of solutions” being developed to improve housing affordability. However, no additional details about how the 50-year mortgage would work or its specific terms were disclosed.
The announcement caught some Trump administration officials off guard and led to internal frustration. One source told CBS News that Trump himself was lukewarm about the idea and only publicly endorsed it to quiet Pulte’s persistent advocacy. However, another source disputed this portrayal, stating that extended mortgage terms of 40 and 50 years had been informally discussed among senior officials, including Commerce Secretary Howard Lutnick and National Economic Council Director Kevin Hassett.
Despite these discussions, the sources emphasized that the conversations around longer-term mortgages remained casual and exploratory. No final decisions or formal plans had been made to implement the 50-year mortgage proposal. Additionally, the Trump administration has reportedly been working on a broader set of initiatives to tackle housing affordability, including efforts to increase housing supply and reduce bureaucratic obstacles that drive up costs.
The episode highlights the complexity of housing finance policy and the challenges in balancing affordability with financial prudence. While spreading mortgage payments over a longer period, such as 50 years instead of the conventional 30, could lower monthly payments, experts caution that it could significantly increase the total interest paid over the life of the loan.
Kate Wood, a lending expert at NerdWallet, told CBS News that even with relatively low interest rates, the cumulative interest paid on a 50-year mortgage would be “staggering.” This is because borrowers would be paying interest for nearly twice as long as a standard mortgage term, potentially leading to higher overall costs despite the lower monthly burden.
Currently, housing affordability remains a pressing issue in the U.S. According to data from Redfin and the Federal Reserve, the average homeowner spends about 39% of their income on housing expenses, well above the commonly recommended affordability threshold of 30%. Mortgage rates, although having eased somewhat this year, remain above 6%—roughly double the historically low rates seen during the pandemic. Meanwhile, home prices have surged, averaging $410,800 in the second quarter of 2025, a 25% increase compared to early 2020.
In a Fox News interview on Monday night, Trump defended the 50-year mortgage concept, characterizing it as a way to reduce monthly payments by extending the repayment period. He described it as “not like a big factor” but acknowledged it “might help a little bit” with affordability. His remarks suggested a cautious optimism about the idea’s potential impact.
The White House, through spokesperson Davis Ingle, affirmed the administration’s commitment to improving homeownership accessibility by cutting unnecessary red tape, boosting housing supply, and lowering costs. Ingle also expressed appreciation for Pulte’s efforts and emphasized collaboration within the administration to advance the president’s housing policies.
Despite the enthusiasm expressed by some officials, the proposal has yet to gain broad traction or detailed examination. Analysts continue to debate whether longer-term mortgages like a 50-year loan would genuinely ease affordability challenges or simply shift financial burdens over a longer timeline, potentially increasing total costs for homeowners.
The discussion around 50-year mortgages underscores