Could a new bill let you keep your low mortgage rate when you move? A bill introduced in Congress this month would let homeowners transfer their existing mortgage rate, term, and balance to a new home. It's not law yet, but it's worth understanding now.
If you've talked to me about selling in the last year or two, you already know the conversation. "I'd move, but I can't give up my rate." I hear it constantly, from folks in Shelby, Minden, Underwood, and everywhere in between. You bought or refinanced when rates were in the 3% range, and now the idea of trading that for something in the high 5s or 6s feels like a financial gut punch, even if your house doesn't fit your life anymore.
There's a new bill in Congress that's trying to fix exactly that problem, and I want to walk you through what it actually says, what it doesn't do yet, and why it matters if you're thinking about buying or selling out here.
What the MOVE Act Actually Does
Congressman Tom Kean, Jr. introduced the Making Ownership Viable for Everyone (MOVE) Act on August 3, 2026. The bill would make "portable mortgages" accessible by requiring Fannie Mae and Freddie Mac, the entities that buy the majority of mortgages from lenders, to start purchasing them.
In plain English: a portable mortgage lets you take your existing rate, term, and remaining balance with you when you buy a different home, instead of paying it off and starting over at whatever rate is available that day.
A couple of things worth being straight about:
- This is a bill, not a law. It was just introduced. It still has to move through committee, get a vote, and likely get reconciled with whatever the Senate does before it could ever take effect. Don't make a moving decision based on this being available next month.
- It would need Fannie Mae and Freddie Mac to build out the infrastructure for it. That's not a small lift. Even if the bill passes, there would likely be a runway before it's actually usable by everyday buyers and sellers.
- The details that matter most for you (loan-to-value limits, how it applies to jumbo loans, what happens if your new home costs more or less than your old one) aren't fully spelled out in the press release. The full bill text is public if you want to dig into it yourself.
Why This Matters So Much Right Now
This isn't a random idea. It's aimed at something called the "lock-in effect," and it's a real, measurable thing.
Roughly one in five mortgaged homeowners nationally still have a rate below 3%, and Redfin's own survey found that about 16% of homeowners who aren't planning to sell say it's specifically because they don't want to give up their current rate. That's not a small niche. That's a huge chunk of the housing supply sitting on the sidelines.
I see the local version of that every day. Someone's got a starter home in Avoca they've outgrown, or they're ready to downsize out of a place near Missouri Valley and move onto an acreage, and the math on giving up a 3% rate for something double that just doesn't pencil out for them right now, even though they'd genuinely rather be somewhere else.
If something like the MOVE Act ever became real and workable, it could loosen that up. More sellers willing to list means more inventory, which is good news if you're a buyer who's been frustrated by thin selection in the small towns around Council Bluffs and Omaha.
What This Means If You're a Seller
If you're one of the folks sitting on a low rate and holding off on selling, this is a bill to keep an eye on, not a reason to change your plans today. Nothing about your options has changed yet. If your current home genuinely doesn't work for your life anymore, that's still worth a real conversation, rate or no rate. There are ways to run the numbers so you know exactly what a move costs you today, and there may be more flexibility than you think depending on your equity position.
What This Means If You're a Buyer
If you've been waiting for more inventory to hit the market in places like Neola, Walnut, or Treynor, legislation like this is one of the levers that could eventually help. It won't move the needle overnight, and it's not something to bank a purchase timeline on. But it's a sign that the lock-in problem is getting real attention in Washington, and if it does move forward, it could mean more move-up sellers finally listing their homes.
FAQ
Is the portable mortgage bill law yet? No. The MOVE Act was introduced in the U.S. House on August 3, 2026. It has to go through committee review and a vote, and likely needs Senate action too, before it could become law.
Would a portable mortgage let me keep my exact rate if I buy a more expensive home? The press release doesn't spell out those mechanics, and that's exactly the kind of detail that usually gets worked out as a bill moves through committee. If you want to see what's currently written, the full bill text is public.
Should I wait to sell until this passes? Not on this alone. There's no guarantee it passes, and no timeline even if it does. If your current home isn't working for you, it's worth running your specific numbers now rather than waiting on legislation that may or may not happen.
Curious what your equity and rate situation would actually look like if you moved today, portable mortgages or not? DM me, or call/text me at 402.306.6255. I'll walk through the real numbers with you, no pressure.
Jamie Leaders - Broker/Owner
J. Leaders Realty
402.306.6255
jamieleare@gmail.com
