The Trump administration is moving forward with a plan to introduce a 50-year fixed-rate mortgage, a reform officials believe could make homeownership more feasible for millions of Americans amid soaring prices and mounting affordability concerns.

“Thanks to President Trump, we are indeed working on The 50-year Mortgage – a complete game changer,” Federal Housing Finance Agency Director Bill Pulte said Saturday in a statement released on social media .

His announcement came after Trump shared a graphic online comparing his proposal to the 30-year mortgage policies championed by President Franklin D. Roosevelt during the New Deal.

With 30-year fixed rates remaining stuck above 6% for more than three years, high homeownership costs have kept many would-be homebuyers out of the market.

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