During a portion of an interview aired on Monday’s broadcast of the Fox News Channel’s “Ingraham Angle,” President Donald Trump argued that the 50-year mortgage isn’t a big deal and “It might help a little bit.”
Host Laura Ingraham asked, [relevant exchange begins around 8:20] “[Y]our housing director has proposed something that has enraged your MAGA friends, which is this 50-year mortgage idea. So, a significant MAGA backlash, calling it a giveaway to the banks and simply prolonging the time it would take for Americans to own a home outright. Is that really a good idea?”
Trump responded, “It’s not even a big deal. You go from 40 to 50 years…you pay something less, from 30, some people had a 40, and then now they have a 50. All it means is you pay less per month, you pay it over a longer period of time. It’s not like a big factor. It might help a little bit. But the problem was that Biden did this, he increased the interest rates, and I have a lousy Fed person — who’s going to be gone in a few months, fortunately — … Jerome Powell, we call him too late, he was too late on everything, except when it came to before the Democrat — so-called Democrat election, which didn’t work. But we’re going to get interest rates down. But even with interest rates up, the economy’s as strong as it’s ever been. … We’re down on energy. We’re down on interest rate[s], interest rates are down despite the Fed. Now, the Fed — if we had a normal person at the Fed, we’d have really low interest rates. And we will soon have that.”
Follow Ian Hanchett on Twitter @IanHanchett
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