Take Your Rate Act of 2026

The "Take Your Rate Act of 2026" directs the Secretary of Housing and Urban Development (HUD) and the Director of the Federal Housing Finance Agency (FHFA) to conduct a comprehensive study. This study will investigate the feasibility and potential impacts of implementing mortgage loan portability for Federally backed mortgage loans, exploring how borrowers might transfer their existing mortgage rates to a new home. The study's scope includes assessing administrative and operational viability, the effects on the housing market, and necessary changes to regulations or statutes. It will also analyze the number of potential beneficiaries, the budgetary implications for the federal government, and the financial safety and soundness for programs like Fannie Mae and Freddie Mac. Additionally, the study must recommend whether a limited demonstration program would be beneficial or, if portability is unfeasible, propose alternative solutions for housing market relief. Within 180 days of enactment, a joint report detailing the study's findings, policy recommendations, risk/benefit assessments, and any dissenting views must be submitted to Congress.