Bill Pulte, the Federal Housing Finance Agency director, said the administration is “actively evaluating portable mortgages,” days after President Donald Trump’s call for 50-year mortgages fell flat with industry and consumers.
Pulte didn’t give any details on how the plan would work in his social media post on Wednesday. In theory, a portable mortgage would allow a homeowner to transfer their current mortgage rate from one home to another.
www.bloomberg.com
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