

But won’t the rate be higher, like 30 year rates are higher than 15 year rates? I don’t know much about economics but I remember that being a thing when I was looking at mortgages. I assume it has to do with long-term risk for the lender.
Also, how many people actually stay in a home for 50 years without moving? I know my earlier house payments had a larger portion going to interest (I assume this is a math thing?) than my more recent payments, therefore you build equity really slowly at first, meaning you’re not building enough equity to even cover the costs of the ownership or the cost to sell unless you stay in place for a long time.
I’m just a dummy but this feels like a scary thing and not a good thing.

I also worry home prices will jump to eat up any monthly cost differences, too. Like okay your 50 year mortgage is $100 less a month but we increased the price of the house by $50000 so unless you’re already a homeowner (and plan on renting next) then you’ll be further priced out of the market.