On Saturday Trump posted to Truth Social his next great idea for the American consumer following the idea of busting the ACA subsidies and divvying them up by $6,000 increments to all — he’s trying to sell America on lifetime mortgage debt.
The post featured an image of him next to Franklin Delano Roosevelt, who introduced the 30-year mortgage following the Great Depression to help Americans in the recovery.
Federal Housing Finance Agency (FHFA) Director Bill Pulte on Saturday confirmed the Trump administration is “working on” a plan to introduce the 50-year mortgage.
It is Pulte’s primary job to ensure the soundness of the mortgage market.
Home ownership has become one of the key issues in the U.S., with home prices and interest rates high. The median household today spends 38.4% on a mortgage, and the average age of the first-time home buyer has reached an all-time high of 40.
Pulte, whose agency is responsible for keeping tabs on government-sponsored Fannie Mae and Freddie Mac, confirmed last month that Trump is “opportunistically evaluating” whether to privatize the entities as early as the end of 2025. Fannie and Freddie guarantee a large portion of U.S. mortgages.
Wait, I thought Trump didn’t want to hear about affordability??
Pulte is known as a catalyst in Trump’s revenge campaign against his enemies, including Letitia James, who was indicted on claims of mortgage fraud.