Federal Housing Finance Agency Director Bill Pulte confirmed Saturday that President Donald Trump's administration is developing a proposal to introduce 50-year mortgages.
Pulte called the plan a "complete game changer" for American homebuyers.
"Thanks to President Trump, we are indeed working on The 50 Year Mortgage — a complete game changer," Pulte said in a statement on X.
His comments followed a Truth Social post from Trump, who shared a graphic comparing himself to Franklin D. Roosevelt, whose New Deal created the 30-year mortgage standard during the Great Depression.
The 50-year mortgage would be the most dramatic shift in U.S. housing finance in nearly a century.
Supporters say it could lower monthly payments, extend affordability to younger Americans, and help buyers struggling with record prices and high interest rates.
By stretching payments over five decades, borrowers could reduce monthly costs by up to one-third, housing economists say.
Critics warn, however, that longer loans would slow equity growth and significantly increase total interest payments.
The proposal comes amid mounting financial pressure on homeowners and first-time buyers. Google searches for "help with mortgage" recently hit their highest level since 2009, reflecting growing distress in the market.
Adjustable-rate mortgages now make up about 10% of all mortgage applications, the highest share in nearly two years, according to the Mortgage Bankers Association. Redfin reports that the median U.S. household now spends 38.4% of its income on mortgage payments.
Trump campaigned last year on improving housing affordability for younger generations. Rising costs have made that goal more urgent, prompting fresh attention to long-term mortgage reform.
Pulte's statement also aligns with Trump's broader push to reshape the housing finance system. In May, Trump said he was considering bringing Fannie Mae and Freddie Mac back to public markets.
"I am giving very serious consideration to bringing Fannie Mae and Freddie Mac public," Trump wrote on Truth Social. "They are doing very well, throwing off a lot of cash, and the time would seem to be right. Stay tuned."
Pulte confirmed last month that Trump is "opportunistically evaluating" releasing the two government-sponsored enterprises to the market by the end of 2025.
His agency oversees both entities, which were created by Congress and bailed out by the Treasury Department during the 2008 housing crash.
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