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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 of Closer Look, we break down the pros and cons — and a lot more — with Dan Eisner, founder and CEO of True North Mortgage.

Hosted by Village Media’s Michael Friscolanti and Scott Sexsmith, and produced by Derek Turner, Closer Look is a new daily podcast that goes way beyond the headlines with insightful, in-depth conversations featuring our reporters and editors, leading experts, key stakeholders and big newsmakers.

Fresh episodes drop every Monday to Friday at 7 p.m. right in your local news feed — and on the show’s dedicated website: closerlookpodcast.ca. Of course, you can also find us wherever you get your favourite podcasts.

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