Portable Mortgages Could Unfreeze Housing Market But Raise Rates, Disruptions
-
Making mortgages portable could help unfreeze the housing market by allowing sellers to keep their low rates when they move, boosting listings and sales.
-
Portable mortgages could also make buying a home more attractive for buyers not wanting to lock into high rates.
-
However, portable mortgages could push mortgage rates even higher by increasing risks and costs for lenders.
-
They may also disrupt the current mortgage market and make it harder for some people to buy homes.
-
Government-sponsored agencies currently overseeing the mortgage market don't appear interested in introducing portable mortgages now.