US Treasury Secretary Bezent's adviser Joseph Lavorgn said on Wednesday local time that lower interest rates may eliminate the need for the 50-year mortgage proposed by the Trump administration. Trump's idea of a 50-year mortgage is aimed at increasing people's affordability to buy homes. Lavorgna said that the idea of a 50-year mortgage doesn't have to be completely ruled out, but he points out that this is a plan proposed by the Federal Housing Finance Office to reduce monthly mortgage payments. He added that the problem with the real estate market is that interest rates are too high because the Federal Reserve is cautious about cutting interest rates.

US Treasury Secretary Bezent's adviser Joseph Lavorgn said on Wednesday local time that lower interest rates may eliminate the need for the 50-year mortgage proposed by the Trump administration. Trump's idea of a 50-year mortgage is aimed at increasing people's affordability to buy homes. Lavorgna said that the idea of a 50-year mortgage doesn't have to be completely ruled out, but he points out that this is a plan proposed by the Federal Housing Finance Office to reduce monthly mortgage payments. He added that the problem with the real estate market is that interest rates are too high because the Federal Reserve is cautious about cutting interest rates.