October 22, 2020
Business News

Refinancing your mortgage will cost more thanks to a new fee from Fannie Mae and Freddie Mac – MarketWatch

If youre in the process of refinancing your mortgage, you may end up paying more than you expected.Fannie Mae
FNMA,
+1.18%
and Freddie Mac
FMCC,
+1.91%
announced Wednesday evening that they will now be charging a 0.5% adverse market fee on all refinances, including both cash-out and non-cash-out refis. The new fee goes into effect Sept. 1. As a result of risk management and loss forecasting precipitated by COVID-19 related economic and market uncertainty, we are introducing a new Mar…

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