Trump further argued that the more pressing issue was the spike in interest rates, blaming President Biden and Federal Reserve Chair Jerome Powell—whom he referred to as “Too Late”—for sluggish responsiveness. Trump assured viewers that interest rates would come down, but defended the overall strength of the economy under his stewardship: “Even with interest rates up, the economy is the strongest it’s ever been,” he asserted.
Ingraham raised the issue of people saying they have significant anxiety about the economy in the electorate, and Trump pushed back. “I don’t know that they are saying that. We’ve got the greatest economy that we’ve ever had.”
The plan didn’t escape harsh scrutiny, including from Ingraham herself. She pointed out that the backlash wasn’t coming just from Democrats but also from within Trump’s own base, who characterize extended mortgages as giveaways to banks and mortgage lenders. She said Trump’s base was “enraged” and asked him about 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?” Ingraham asked.
Bloomberg Opinion’s Allison Schrager, on the other hand, wrote on Tuesday that it’s a good idea, with the market clearly expressing a need for something like the 50-year mortgage to exist. It’s “not a terrible idea,” she wrote, adding that while people who sell their homes before their mortgage matures will get less value, “that may be a worthwhile tradeoff for someone who needs or wants a lower monthly payment.” Still, she added she’s concerned it will be difficult to price and she still has some deep concerns about the idea.
