How A Rare Type Of Mortgage Is Landing Homebuyers A 3% Mortgage Rate

Popular in the 1970s and 80s assumable mortgages have largely fallen out of the public consciousness. But as U.S. mortgage rates plateau above 6%, interest in this rare type of mortgage has seen a steady climb over the past three years. Now, U.S. homebuyers are looking into mortgage assumption as a way to secure a sub-3% mortgage rate. Watch the video above to learn more about assumable mortgages, how they work, and why they can come with their own set of hurdles. Chapters: 0:00 Introduction 1:57 What are Assumable Mortgages? Produced and Edited by: Devan Burris Graphics by: Jason Reginato Supervising Producer: Jeniece Pettitt Additional Footage: Getty Images, Wes Van Dell