How a rare type of mortgage is landing homebuyers a 3% mortgage rate

Popular in the 1970s and 1980s, 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 to learn more about assumable mortgages, how they work, and why they can come with their own set of hurdles.