Housing Director Announces Trump Administration's Initiative on 50-Year Mortgage Development

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On Saturday, Bill Pulte, the Director of the Federal Housing Finance Agency (FHFA), announced that the Trump administration is currently developing a plan to offer 50-year mortgage terms for homebuyers.

Pulte expressed this development via a statement on the social platform X, saying, “Thanks to President Trump, we are indeed working on The 50 year Mortgage — a complete game changer.”

This announcement follows a post by President Trump on Truth Social earlier that day. The post featured a graphic comparing Trump with former President Franklin D. Roosevelt, whose administration introduced the 30-year mortgage standard during the New Deal to aid citizens in recovering from the Great Depression.

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Trump has previously advocated for making housing more affordable for younger generations during his campaign last year. However, he has recently encountered challenges on this front as housing prices continue to rise.

In recent weeks, Google searches for “help with mortgage” have surged to their highest point since 2009. Adjustable-rate mortgages (ARMs) have also gained traction, comprising about 10 percent of mortgage applications in September. This marks the highest share in nearly two years and is notably above the post-2008 average of 6 percent, as reported by the Mortgage Bankers Association (MBA).

In May, Trump said he was considering bringing Fannie Mae and Freddie Mac public. The two enterprises key to the mortgage market were originally created by Congress but remained private companies funded by the Treasury Department until the housing market crash in 2008.

“I am giving very serious consideration to bringing Fannie Mae and Freddie Mac public,” Trump wrote in post on Truth Social, adding that he would make a decision in the “near future.”

“Fannie Mae and Freddie Mac are doing very well, throwing off a lot of CASH, and the time would seem to be right. Stay tuned,” he added.

Pulte, whose agency is responsible for keeping tabs on Fannie and Freddie, confirmed last month that Trump is “opportunistically evaluating” whether to release the two enterprises to the market as early as the end of 2025.

The FHFA director might be best known for his campaigns against Trump’s perceived enemies, including New York Attorney General Letitia James (D), who is facing mortgage fraud charges based on documents surfaced by the agency.