getty With mortgage rates still on historical lows, it may seem like a good time to refinance. Kick off September 1sthowever, the cost of refinancing a mortgage goes up because of economic risks associated with Covid-19. Both Freddie Mac and Fannie Mae have announced a new mortgage rate of 0.5%. …
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If you are in the process of refinancing your mortgage, you may end up paying more than you expected. Fannie Mae FNMA, + 1.42% and Freddie Mac FMCC, + 1.67% announced Wednesday night that they will now charge a 0.5% negative market fee on all refinances, including both cash-out and …
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With mortgage rates at record lows, it is no wonder that many Americans are refinancing their homes. Add to that the coronavirus pandemic and economic downturn, and the need to find additional cash or cut expenses becomes even greater. In fact, refinancing requests are 74% higher than a year ago, …
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The coronavirus pandemic has led to a dramatic decline in mortgage rates. But that doesn’t mean that now is a good time to refinance for everyone. Last week, Freddie Mac FMCC, -0.94% It reported that mortgage rates hit a new record low for the fourth time this year, with the …
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