Abstract: The dissolving and/or dispersing of relatively large proportions of reclaimed rubber into molten paving asphalts is facilitated by incorporating into the asphalt a minor proportion of a highly aromatic, high-boiling, high-flash-point mineral oil. The resulting mixtures can be held at temperatures above 300.degree. F for substantial periods of time without becoming too viscous for convenient handling, thereby facilitating the application thereof to roadways. The rubberized asphalt mixtures are particularly useful in the form of stress absorbing membrane interlayers between old, damaged pavement surfaces and an overlayer of new asphalt concrete, for providing chip-seal coatings over old pavement, as crack fillers in Portland Cement concrete or asphalt concrete pavements, and bridge deck waterproofing membranes.