President Trump has proposed a 50-year mortgage to make homeownership more affordable, despite criticism for higher interest costs and slower equity growth. Conservative lawmakers and economists have expressed concerns over the idea, with some calling it a lifetime of debt. Housing affordability remains a key issue as costs rise for U.S. households.

The Federal Housing Finance Agency (FHFA) is exploring the idea of a five-decade-long mortgage as a potential game-changer, according to Director Bill Pulte. Efforts are also being made to provide relief for 5, 10, and 15-year mortgages, with potential changes to Fannie Mae and Freddie Mac’s policies. The White House is supportive of Pulte’s efforts to implement Trump’s policies.

Despite a rise in home sales in September, pending sales have remained flat, impacting affordability as prices continue to climb. The Federal Reserve’s recent rate cuts have not fully offset concerns over a softening labor market, prompting Trump to call for more drastic cuts. The average 30-year fixed-rate mortgage is at a one-year low of 6.19%, offering some relief for buyers.

Read more at Yahoo Finance: Trump says 50-year mortgages would be no ‘big deal’