In an interview with Fox News, Donald Trump, the President of the United States, expressed his support for the idea of extending mortgage terms to 50 years. This statement comes against the backdrop of growing difficulties faced by many Americans trying to purchase housing.
He noted that increasing the term from 40 to 50 years "is not a significant step," but it may provide some assistance in addressing the issue of housing affordability in the country.
Currently, the average mortgage term in the U.S. is 30 years.
