No, but our Treasury Secretary recently floated the idea so it might become a thing soon. I believe there are already some 40-year mortgages, but they’re rare and non-standard. The 30-year mortgage has been an American institution since it was standardized under FDR’s New Deal in the 1930s.
No, it’s just some exaggeration to make it even more ridiculous. As if 50 years isn’t enough.
What’s really awful is when you see how little the payment lowers between a 30yr and 50yr mortgage with current rates. It’s not nearly as big a difference as you’d think.
Not a thing yet AFAIK, but Trump proposed the idea this week. You can get 30-year ones here in Canada too, but I’m not sure what the lowest fixed interest rate is currently.
Is this an actual thing in the us? We don’t have 50 year mortgages in Denmark but I can get a 30 year fixed interest at 3.5%
No, but our Treasury Secretary recently floated the idea so it might become a thing soon. I believe there are already some 40-year mortgages, but they’re rare and non-standard. The 30-year mortgage has been an American institution since it was standardized under FDR’s New Deal in the 1930s.
trump just announced 50 year mortgages
this is so awesome I can’t wait to be in debt my entire life
and your kids will be in debt.
If mortgages were capped to 20 years, the prices of houses would plummet.
Debt slavery is the new black. Indentured servitude is back.
Don’t forget about paying back triple what you borrowed!
But are they really 17% interest rate?
No. Mortgage interest rates are in the 6’s right now in the US
No, it’s just some exaggeration to make it even more ridiculous. As if 50 years isn’t enough.
What’s really awful is when you see how little the payment lowers between a 30yr and 50yr mortgage with current rates. It’s not nearly as big a difference as you’d think.
That’s the fun part, you probably were already going to be!
Not a thing yet AFAIK, but Trump proposed the idea this week. You can get 30-year ones here in Canada too, but I’m not sure what the lowest fixed interest rate is currently.