Soaring mortgage rates spur interest in assumable loans
With soaring rates squeezing affordability, homebuyers and lenders are taking notice of this oft-overlooked feature.
3 min read
Nov 07, 2022
Jeff Ostrowski
Principal writer, Home lending
EXPERTISE
- Mortgages
- Mortgage refinancing
- Mortgage rate trends
- Housing market
- Real estate
EDUCATION
- Bachelor of Science, University of Illinois at Urbana-Champaign
- Master of Arts, University of Illinois at Springfield
- Continuing coursework, including NMLS Mortgage Loan Originator education and MLO SAFE Test
About the author
Jeff Ostrowski has closely covered two nationwide housing booms and one devastating bust. Before joining Bankrate in 2020, he spent more than 20 years writing about real estate, business, the economy and politics. He previously worked as a reporter at the Palm Beach Post and the South Florida Business Journal.
Since 2019, Jeff has served on the board of the nonprofit National Association of Real Estate Editors. He twice has won gold awards in the group’s journalism contest. His Bankrate coverage of housing affordability was also honored with a Best in Business award from the Society for Advancing Business Editing and Writing.
When he’s not working, Jeff enjoys surfing, biking and traveling, usually with a surfboard or bike.
Jeff is the author of How to Buy a Home in a Miserable Market, available in paperback and e-book on Amazon.
Jeff beyond Bankrate
Jeff wants you to know
When you’re applying for a mortgage, shop around and do your homework — informed borrowers can save thousands of dollars over the life of their loan. Don’t fixate on finding the absolute perfect option, though, or timing your loan to a low point for mortgage rates. If you’re borrowing now, mortgage rates could go down in the future. Avoid worrying about all those things that are both out of your control and impossible to predict.
Jeff's latest articles
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Mortgages
If you're buying a home, make sure your mortgage lender is the best. Online, traditional, fast closing... Whatever you're looking for, we found the best.
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Low- and no-down payment minority mortgages still present risks
As more lenders aim to address the racial housing gap, they offer generous terms. Borrowers still face risks.
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Deed vs title: What’s the difference?
They both related to property ownership, but one is a physical thing and the other is abstract.
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It’s a mortgage has to adhere to certain standards — to protect both you and the lender.
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