Core Insights - Portable mortgages allow homeowners to retain their existing loan terms and interest rates when purchasing a new property, which is currently not available in the U.S. but exists in Canada and the UK [1][2][3] Group 1: Portable Mortgages Overview - Portable mortgages enable borrowers to keep their low-rate mortgage when moving, avoiding the need for a new loan with potentially higher rates [1] - In Canada and the UK, borrowers typically have shorter fixed-rate loan terms of two to five years, facilitating the portability concept [2] - The U.S. housing market structure requires loans to be paid off upon property sale, primarily due to the reliance on mortgage-backed securities (MBS) [3] Group 2: Potential for U.S. Mortgage Portability - The Trump administration is exploring mortgage portability as a means to enhance housing market mobility, allowing homeowners to retain low rates and facilitating transactions [4][5] - Legislative efforts, such as those proposed in Maine, have been made to promote mortgage portability, but significant changes would require federal action and bipartisan support [5][6] Group 3: Current Mortgage Options - Homeowners looking to move can consider assumable mortgages, particularly those backed by FHA, VA, or USDA loans, allowing them to take over existing loans with lender approval [7] - Bridge loans are available as short-term financing options, enabling buyers to purchase a new home before selling their current one [9] - Rate buydowns may be offered by builders or lenders, providing temporary discounts on mortgage rates for new construction homes [9]