On Thursday’s broadcast of NewsNation’s “The Hill,” Joseph Lavorgna, Counselor to the Secretary of the Treasury Scott Bessent, stated that the 50-year mortgage proposal didn’t come from the Treasury Department and is “probably not an optimal approach.”
Host Blake Burman asked, “Does the Treasury Department, Joe, believe that a 50-year mortgage is a good idea?”
Lavorgna answered, “The Treasury Department is looking at all sorts of factors. That was one proposal. The feedback has been such that, probably — and it did not come from Treasury — but probably not an optimal approach. But we’re looking at everything we possibly can do, and on the supply side, trying to change the permitting, seeing if you can do things to lower closing costs. Again, interest rates are high, monetary policy is restrictive. That’s the purview of the Fed. But, again, we’re trying to come up with everything possible to help working-class Americans, of which the one big, beautiful bill certainly is a key cornerstone to. And if we can do other things, such as lowering the price of coffee and bananas and all sorts of things that the Secretary mentioned, we’re going to pursue every option we possibly can, every little bit will help.”
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