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[–] 17 points 1 year ago (10 children)

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%

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  • [–] 26 points 1 year ago (7 children)

    trump just announced 50 year mortgages

    this is so awesome I can't wait to be in debt my entire life

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  • [–] 3 points 1 year ago (2 children)

    But are they really 17% interest rate?

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  • [–] 12 points 1 year 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.

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  • [–] 7 points 1 year ago*

    No, but our Treasury Secretary recently floated the idea so it might become a thing soon. I believe there are already some 40-year mortgages, but they're rare and non-standard. The 30-year mortgage has been an American institution since it was standardized under FDR's New Deal in the 1930s.

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