Article: Online Lender ETrade to Offer Mortgage Rates that Move from House to House.

By Douglas Hanks III, The Miami Herald Knight Ridder/Tribune Business News

Jun. 10--An online lender said Monday it will offer consumers the chance to take their mortgages with them when they move.

ETrade Financial's portable mortgage lets a borrower lock in today's rock-bottom interest rates for 30 years without having to actually live in the same home for that long. In exchange, the commitment-phobic borrower would pay a higher interest rate: 5.875 percent, or about three-eighths of a point more than a standard fixed loan, according to The Wall Street Journal.

That catch has critics wondering whether ETrade's "Mortgage on the Move" will ...

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