House Bill Proposed Mortgage Rate Portability

The legislation aims to help homeowners carry their current interest rates to new properties to boost housing inventory.

Updated on Oct. 1, 2026 in Residential

Bold flat-color editorial illustration showing a stylized residential door handle and lock, representing housing market rate portability policy. — Representative Tom Kean Jr. introduced the MOVE Act on August 3, 2026, a bill designed to allow homeowners to transfer current mortgage interest rates to new residences. 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?

Representative Tom Kean Jr. introduced the MOVE Act on August 3, 2026, which would allow homeowners to transfer existing interest rates when purchasing a new residence. The proposal seeks to address declining housing inventory by incentivizing owners with low mortgage rates to sell their homes.

Why it matters

High interest rates, which exceeded 7 percent in September 2026, have created a lock-in effect where homeowners are reluctant to move and take on a more expensive loan. By enabling rate portability for conventional mortgages, the bill aims to increase the supply of available homes for buyers.

Charleston's housing inventory sat at 1,507 homes in August 2026, a sharp decline from the 2,612 homes available in 2018. The legislation would require Fannie Mae and Freddie Mac to facilitate these portable mortgages within 180 days of enactment.

The players

Representative Tom Kean Jr.

The sponsor of the MOVE Act who aims to address national housing inventory constraints through legislative mortgage reform.

House Financial Services Committee

The congressional body currently reviewing the proposed mortgage portability legislation.

Fannie Mae

A government-sponsored enterprise that would be required to manage the bundling of portable mortgages under the proposed law.

Freddie Mac

A secondary mortgage market participant tasked under the bill with supporting the new portable loan structure.

The details

Under the proposed MOVE Act, homeowners would have a 90-day window to close on a new property after selling their current home to keep their original rate. The policy is limited to conventional mortgages and specifically excludes VA, FHA, and USDA loans. If passed, the legislation would force Fannie Mae and Freddie Mac to bundle these portable loans to maintain market liquidity.

August 3, 2026: Representative Tom Kean Jr. introduced H.R. 10028.
August 2026: Charleston housing inventory reached 1,507 homes.
September 2026: Thirty-year fixed mortgage rates exceeded 7 percent.
November 2026: Midterm elections are scheduled to occur.

Residential
Sept. 18
30-Year Mortgage Rates Rose to 19-Month High
Residential
Sept. 23
30-Year Mortgage Rates Rose to 7.12 Percent
Residential
Oct. 2
30-Year Mortgage Rates Climbed to 7.38 Percent

Money Landscape

The MOVE Act marks a notable departure from current mortgage lending standards that typically link interest rates to a specific property. It reflects ongoing efforts to resolve the housing inventory shortage caused by the lock-in effect of the recent high-rate interest cycle.

Homeowners currently sitting on low rates should track the progress of this bill as a potential factor in their future moving decisions. If you are considering a home sale or purchase, discuss the implications of current 7 percent rates with a qualified financial professional.

The takeaway

The MOVE Act proposal aims to unlock housing inventory by letting homeowners keep their low rates when they move. For now, monitor updates on the bill's status following the November 2026 elections and consult a professional regarding your specific long-term real estate goals.