Your Money: 50-year mortgages could cut monthly payments but double interest costs over time

What's happened in the mortgage market over the last four years is we had this extraordinary period where interest rates were sub-4%, so mortgages of 3.8 to 4.2, which is extraordinary over a 50-year metric. We have to remember, mortgages in America have been 7% forever, and many people bought homes or were successfully ending up owning all the equity in them at 7%. This is just kind of a financial engineering because the amount of interest you're gonna pay over 50 years, you'll never own the ho