Portable mortgages explained: What they are and how they work

Federal Housing Finance Agency Director Bill Pulte said the government agency is "actively evaluating" portable mortgages, which would allow a homeowner to transfer their loan from their current home to a new home when they move. With portable mortgages, the homeowner would effectively be able to keep their existing interest rate and terms instead of paying off the loan and getting a new one. It’s a strategy designed to inject movement into a stagnant housing market. Many homeowners and would-be buyers have remained on the sidelines because they are reluctant to trade their sub-3% mortgage rat