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Breaking News: New Adverse Market Refinancing Fee
Refinancing your home just got more expensive. In the midst of the current mortgage refinancing boom because of low rates, Fannie Mae and Freddie Mac just announced a new half point fee. They say it’s the result of market uncertainty, but real estate and mortgage industry leaders say it’s a money grab that’s happening at a very bad time for homeowners.
The Federal Housing Finance Agency announced the fee on August 12th saying there would be a new half point fee on most loans backed by Fannie and Freddie starting next month.