00:00It's Benzinga bringing Wall Street to Main Street.
00:03The Trump administration is weighing a proposal for a 50-year mortgage to ease home affordability
00:07pressures, according to The Independent. Federal Housing Finance Agency director Bill Pult
00:12called the plan a game-changer that could help young Americans enter the housing market.
00:18Franklin D. Roosevelt's New Deal created the FHA to stabilize housing,
00:23which began offering 30-year mortgages in 1949 that became the industry standard.
00:29Critics argued the 50-year mortgage would trap buyers in lifelong debt
00:33and benefit banks instead of addressing housing supply issues.
00:36Supporters praised the 50-year mortgage as a major pro-homeowner policy that improves on the 30-year loan.
00:42For all things money, visit Benzinga.com.
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