No, but our Treasury Secretary recently floated the idea. I believe there are already some 40-year mortgages, but they’re rare. The 30-year mortgage has been an American institution since it was standardized under FDR’s New Deal.
Comment on Bank Workers, Rejoice!
bebabalula@feddit.dk 2 days ago
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%
infinitesunrise@slrpnk.net 1 day ago
CrabAndBroom@lemmy.ml 1 day ago
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.
webpack@ani.social 2 days ago
trump just announced 50 year mortgages
this is so awesome I can’t wait to be in debt my entire life
SaveTheTuaHawk@lemmy.ca 1 day ago
and your kids will be in debt.
If mortgages were capped to 20 years, the prices of houses would plummet.
sunbytes@lemmy.world 2 days ago
Don’t forget about paying back triple what you borrowed!
Tryenjer@lemmy.world 2 days ago
Debt slavery is the new black.
bebabalula@feddit.dk 2 days ago
But are they really 17% interest rate?
ReluctantMuskrat@lemmy.world 2 days ago
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.
Briguy@lemmy.world 1 day ago
No. Mortgage interest rates are in the 6’s right now in the US
bitjunkie@lemmy.world 1 day ago
That’s the fun part, you probably were already going to be!