President Donald Trump’s proposal to offer 50-year mortgages to homebuyers has been met with extensive skepticism from real estate insiders .

A key criticism of offering house hunters a longer-term borrowing option is that it would not save borrowers a significant amount of money in the short term and would drive up buyer’s financing costs in the long haul. Numerous housing gurus claim the interest rate on these half-century loans would be significantly higher than the traditional 30-year mortgage.

This logic is largely based on the fact that 30-year fixed-rate mortgages are more expensive than the already available but lesser-used twist, the 15-year home loan. Since 1991, the 30-year mortgage has averaged 5.83%, according to Freddie Mac, compared with 5.25% for the 15-year mortgage.

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