Federal Housing Finance Agency (FHFA) Director Bill Pulte said on Saturday that the Trump administration is working on a plan to offer a 50-year plan. mortgage Terms for home buyers.
“Thanks to President Trump, we are actually working on a 50-year mortgage – a complete game changer,” Pulte wrote in a statement On social platform X.
after this one true social Posted by President Trump earlier in the day in which he shared a graphic combining his image with that of former President Franklin D. Roosevelt. The administration that oversaw the New Deal Established 30-year mortgage standard to help citizens recover from the Great Depression.
Similarly, Trump campaigned last year on creating affordability for the younger generation, but the president has recently faced headwinds on the topic. prices rise,
Google search “Assistance with mortgages” has recently climbed to its highest level since 2009, while adjustable-rate mortgages, or ARMs, have also trendingARMs accounted for nearly 10 percent of all mortgage applications in September — the highest share in nearly two years and well above the 6 percent average since 2008, according to Mortgage Bankers Association (MBA).
Still, home prices and interest rates remain relatively high, with average household spending About Redfin determined that 38.4 percent of their monthly income would go toward mortgage payments.
In May, Trump said he was considering taking Fannie Mae and Freddie Mac public. The two enterprises key to the mortgage market were originally created by Congress, but remained private companies funded by the Treasury Department until the housing market crashed in 2008.
“I am very seriously considering taking Fannie Mae and Freddie Mac public,” Trump wrote. Post On Truth Social, he said he would make a decision in the “near future”.
He said, “Fannie Mae and Freddie Mac are doing great, spending a lot of money, and the timing feels right. Stay tuned.”
Pulte, whose agency is responsible for overseeing Fannie and Freddie, Confirmed Last month that Trump “evaluate opportunistically“Will both ventures be released to the market by the end of 2025.
The FHFA director is known for his campaigns against Trump’s perceived enemies, including New York Attorney General Letitia James (D), who faces mortgage fraud charges based on documents revealed by the agency.
