Lower interest rates would likely eliminate the need for a 50-year mortgage floated by President Donald Trump to boost housing affordability Joseph Lavorgna a counselor to US Treasury Secretary Scott Bessent said on Wednesday Lavorgna said at the Reuters Next summit in New York that the idea of a 50-year mortgage was not necessarily officially off the table but described it as a proposal from the Federal Housing Finance Agency to try to lower monthly mortgage payments The problem with the housing market is that interest rates are too high because of the Federal Reserves cautious approach to lowering them he added We wont need a 50-year mortgage if the Fed was lowering its rates which I think it will Lavorgna said but its been I think very slow and uneven on that score
