“Fannie Mae and Freddie Mac will soon start charging a 0.5% “adverse market fee” for refinanced mortgages in response to the extra risk due to the coronavirus pandemic,” reports LifeHacker.
“Although the new refinance fee was originally scheduled to go into effect on Sept. 1, the Federal Housing Finance Agency delayed these plans in a press release last week. According to the release, the new fee won’t take effect until Dec. 1—and won’t include refinances below $125,000. Fannie Mae’s HomeReady and Freddie Mac’s Home Possible mortgages are also exempt.”
Joshua Holt is the founder of FIREwire, a site that aggregates personal finance, investing and financial independence stories. He is also the creator of