The Take Your Rate Act of 2026 requires the Department of Housing and Urban Development and the Federal Housing Finance Agency to jointly study whether mortgages backed by the federal government could be made "portable," meaning borrowers could keep their mortgage terms when moving to a new home instead of refinancing. The study must examine the feasibility of portable mortgages, their effects on the housing market, necessary regulatory changes, how many current borrowers would benefit, budgetary impacts on the federal government, and risks to mortgage programs and federal agencies. The study should also consider whether a limited demonstration program would be helpful and provide alternative solutions if portability proves infeasible. The two agencies must submit their findings and policy recommendations to Congress within 180 days of the bill's enactment, and may consult with mortgage lenders, Fannie Mae, Freddie Mac, the VA, USDA, and other relevant agencies during their research. The bill does not allocate specific funding amounts for the study.
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