✉news BusinessPersonal Finance first seen 22 h ago, last 20 h ago, peak #21
Portable Mortgages: Keeping Your Low Rate When You Move
Original: Could a Portable Mortgage Let You Keep Your Low Rate When You Move?
A portable mortgage allows homeowners who need to sell and relocate to carry their existing low interest rate to a new home rather than taking out a fresh loan at current market rates. The idea is drawing attention as many borrowers hold rates well below today's levels and are reluctant to give them up. Availability and eligibility rules vary, and lenders typically require the new loan to match or improve on the original terms, which limits how widely portable mortgages can be used.
Why now: With mortgage rates far above the lows many borrowers locked in, people are looking for ways to keep their cheap rates when moving.
Evidence
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