Federal Housing Finance Agency (FHFA) Director William J. Pulte said the agency is working on a 50-year mortgage after President Trump floated the idea.

"Thanks to President Trump, we are indeed working on The 50 year Mortgage  - a complete game changer," Pulte wrote on X Saturday.

Critics have said a 50-year mortgage term, as opposed to the 30-year, would lead to higher lifetime interest costs and benefit banks.

Supporters argue that a 50-year term would lower monthly payments for buyers and make housing more affordable.