(Bloomberg) — Fannie Mae and Freddie Mac are planning to charge an additional fee on most mortgage refinance loans that could raise costs for borrowers trying to take advantage of historically low rates in an uncertain economy.The mortgage giants, which have been under government control since 2008, announced the plan late Wednesday, saying the new 0.5% fee is meant to mitigate their risk in light of the Covid-19 pandemic. It would apply to most refinances involving the companies.The companies and their regulator, the Federal Housing Finance Agency, have tread carefully during the pandemic, as some parts of the mortgage market …read more
Source:: Yahoo Finance
