Rates on Conventional loans are about to go up.
The Federal Housing Finance Agency (FHFA) announced recently that it has directed Fannie Mae and Freddie Mac to raise guarantee fees (g-fees) on single family mortgages by an average of 10 basis points.
The changes to g-fee pricing represent a step toward encouraging greater participation in the mortgage market by private firms, a goal set forth in FHFA’s Strategic Plan for Enterprise Conservatorships.
…So, if you were considering refinancing a Conventional mortgage I would recommend you go ahead and get it done before these changes go into effect.
That’s it for today!
Brett
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