"It might help a little bit," Trump said of the 50-year mortgage plan, which has no details attached yet. His housing director called it a "game-changer."

The intended purpose of a longer-term mortgage would be to lower the monthly payment for homeowners. But a lower monthly payment, has other trade-offs.

The Trump administration is working on a plan to introduce a 50-year fixed-rate mortgage with the goal of making homeownership more affordable.