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Podcast: Closer Look
Episode: 50-year mortgage? Don’t bank on Trump’s big idea coming here
Description: U.S. President Donald Trump is floating a controversial idea to help more Americans achieve home ownership: 50-year mortgages.On the front end, such loans would lower people’s monthly payments by stretching out the principal over a much longer period. But in the end, the interest payments would be way higher — more than double the amount forked over during a typical 30-year mortgage.North of the border, Trump’s proposal raises the obvious question: Should Canada consider allowing 50-year mortgages?Don’t bank on it. On tonight’s episode o...