The 30-year mortgage began in the 1930s as a response to the Great Depression. It was introduced by the government as a way to make homeownership more affordable for average Americans. Before this, most mortgages had much shorter terms and required large down payments. This new mortgage structure allowed for lower monthly payments and increased accessibility to the housing market. Today, the 30-year mortgage remains a popular choice for homebuyers seeking long-term stability and manageable payments.