HUD secretary noncommittal on status of 50-year mortgage proposal

Housing and Urban Development Secretary Scott Turner provided a vague response when asked about the recent proposal of 50-year mortgages for housing, merely saying it is one of several ideas still “on the table.”

The Trump administration revealed last month that it is “working on” the lengthy mortgage term as a way of addressing housing affordability in the United States. But the proposal was quickly met with skepticism from Republicans, who argued it would only lead to homeowners paying more interest and would not expand homeownership.