As policymakers seek ways to unfreeze the housing market, one idea under review is the portable mortgage, which would let homeowners transfer their existing mortgage interest rate to a new property. Federal Housing Finance Agency Director Bill Pulte confirmed on X that the agency is "actively evaluating portable mortgages."
More than half of U.S. mortgage holders have rates at 4% or lower, and about 80% are below 6%, according to Realtor.com. These historically low rates have created a "lock-in effect," where millions of homeowners are staying put because moving would mean giving up a once-in-a-lifetime mortgage interest rate.
