The number of subscribers in mobile networks is growing rapidly, which challenges the network management and data delivery. The efficient management and routing are key solutions. An important one of the solutions is the Distributed Mobility Management (DMM) that to handles the mobility of subscribers at the edge of mobile networks and load balancing. Otherwise, mobility anchors are distributed across the network, which can manage the handover procedures. In this paper, we propose a novel mobility anchor selection scheme based on the results of a cost function with three factors, to select a suitable cell and anchor for moving subscribers and improve the handover performances of the network. Our results illustrate that the proposed scheme provides significantly enhanced handover performance.