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Proposed Bill Allowed Mortgage Rate Transfers

The MOVE Act seeks to let homeowners keep existing rates when buying a new home to boost inventory.

Updated on Oct. 1, 2026 in Residential

Bold flat-color editorial illustration depicting a single brass key hanging from a residential door handle, symbolizing mortgage rate portability.
The Making Ownership Viable for Everyone Act, introduced in August 2026, proposes allowing homeowners to transfer existing mortgage rates to new properties to increase housing supply. AI Illustration. Upload story photo >

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Should homeowners be permitted to transfer their existing mortgage interest rates to a new home purchase?

Introduced on August 3, 2026, the Making Ownership Viable for Everyone Act (H.R. 10028) aims to address housing market stagnation by allowing the portability of conventional mortgage rates. The proposal comes as 30-year fixed mortgage rates climbed above 7 percent in September 2026.

Why it matters

High interest rates have discouraged current homeowners from selling, contributing to significant inventory shortages. This bill intends to unlock supply by enabling families to retain lower interest rates when moving to a new primary residence.

The proposed bill, H.R. 10028, covers only conventional mortgages and excludes VA, FHA, or USDA loans. To qualify, homeowners must close on a new property within 90 days of selling their previous residence.

The players

Tom Kean Jr.

A U.S. Representative who introduced H.R. 10028 to address mortgage portability.

House Financial Services Committee

The congressional committee currently reviewing the legislation for potential advancement.

The details

Under the proposal, Fannie Mae and Freddie Mac would be required to establish a process for buying and bundling portable mortgages within 180 days of enactment. This mechanism would allow a borrower to transfer their current rate structure to a new conventional loan, provided they adhere to the 90-day closing window. The legislation is currently sitting with the House Financial Services Committee for review.

Timeline

  1. August 3, 2026: Representative Tom Kean Jr. introduced the MOVE Act.

  2. August 2026: Charleston housing inventory dropped to 1,507 homes.

  3. September 2026: Thirty-year fixed mortgage rates exceeded 7 percent.

  4. November 2026: Midterm elections occur, after which the bill may advance.

The Home Front

This legislation marks a significant attempt to solve the lock-in effect where homeowners avoid selling due to historically low rates. It sits against the backdrop of a broader housing inventory crisis, which has seen Charleston supply levels drop significantly since 2018.

If you are considering a move, keep in mind that this bill is only a proposal and does not currently impact your existing mortgage. Monitor the status of H.R. 10028 next year to see if it moves out of committee and becomes a viable option for your future financial planning.

The takeaway

The MOVE Act represents a potential shift in how homeowners manage interest-rate lock-in during high-rate cycles. Keep a file of your current mortgage documents, including the loan type and origination date, in case portable mortgage legislation gains traction in the next Congress.

What happens next

The House Financial Services Committee is not expected to move the bill forward until the legislative session resumes following the November 2026 midterm elections.

Further reading

Learn more about the current landscape of homeownership in the Residential section.

Source note: This article includes information reported by Post and Courier.

Live Poll

Should homeowners be permitted to transfer their existing mortgage interest rates to a new home purchase?