Pulte Cites ‘Portable Mortgages’ After 50-Year Idea Panned

Bill Pulte, the Federal Housing Finance Agency director, said the administration is “actively evaluating portable mortgages” just 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.

Portable mortgages could help loosen the logjam of sales caused by the so-called “lock-in effect,” where existing homeowners are reluctant to list their homes and move for fear ...