00:00President Donald Trump proposed a 50-year mortgage to lower monthly payments for homeowners,
00:05with FHFA Director Bill Pulte calling it a complete game-changer.
00:10While monthly payments would drop, homeowners would also build equity more slowly
00:14and pay roughly 40% more interest over the life of the loan.
00:18Legal and market hurdles exist, as a mortgage of this size does not currently qualify under Dodd-Frank,
00:25and investors might demand higher rates.
00:27Experts caution that the impact on housing affordability would be limited
00:31and the plan could complicate future privatization of Fannie Mae and Freddie Mac.
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