Title: The Resurgence of Assumable Mortgages: A New Hope for Homebuyers in 2026? In an era where mortgage rates are skyrocketing, reaching record highs not seen since the late ’80s, a glimmer of hope has emerged. Stephan Bisaha’s article, “Want a Mortgage for Under 3% in 2026? Meet the ‘Assumable Mortgage'” sheds light on this lesser-known yet potentially game-changing solution: assumable mortgages. For those who bought homes during the pandemic years, they’ve been blessed with dirt cheap mortgage rates—below 3%, about half of today’s average for a 30-year fixed mortgage. However, for would-be buyers who missed that golden window, it can feel like they lost their opportunity to afford a house. But as Bisaha points out, there is a way to turn back the housing market clock: assumable mortgages. Assumable mortgages allow homebuyers to take over the seller’s mortgage and with it, their old—much lower—mortgage rate. This transfer not only benefits the buyer by getting a more affordable home but also helps the seller secure a marketing point that could lead to more offers and potentially even a higher selling price. Moreover, this boost in home sales loosens up the tight housing market. According to an estimate by Assume List, about 6 million homes in the U.S. have both an assumable mortgage and an interest rate below 5%. However, not all mortgages qualify for this kind of transfer—and even when they do, buyers and sellers don’t always realize it. Government-backed mortgages are the most common types that can be transferred, including VA loans (Department of Veterans Affairs) and FHA loans (Federal Housing Administration). In 2020, about 18% of new mortgages issued were VA and FHA loans. Yet few homeowners realize they have the option to transfer their mortgage. The process can be time-intensive and require a substantial cash down payment. Nevertheless, in an increasingly competitive housing market where affordability is becoming more challenging by the day, assumable mortgages could become a valuable tool for both buyers and sellers. Historically, assumable mortgages were popular during periods of high interest rates, such as the 1980s when mortgage rates reached double digits. As we approach 2026 with rising mortgage rates, it’s worth considering how this trend could impact the housing market and homeownership opportunities for those who missed out on the pandemic-era low rates. In conclusion, while assumable mortgages may not be a silver bullet to solve our current housing affordability crisis, they offer an intriguing solution that warrants further exploration. As more buyers become aware of this option and lenders adapt their practices accordingly, we could see a resurgence in the use of assumable mortgages—providing hope for homebuyers who thought they had missed their chance at affordable housing.
Source: [Original Article](https://www.npr.org/2026/02/15/nx-s1-5704697/assumable-mortgage-rates-housing-market)
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