No, but our Treasury Secretary recently floated the idea so it might become a thing soon. I believe there are already some 40-year mortgages, but they’re rare and non-standard. The 30-year mortgage has been an American institution since it was standardized under FDR’s New Deal in the 1930s.
No, but our Treasury Secretary recently floated the idea so it might become a thing soon. I believe there are already some 40-year mortgages, but they’re rare and non-standard. The 30-year mortgage has been an American institution since it was standardized under FDR’s New Deal in the 1930s.