Episode Details

Refinancing your home just got more expensive. In the midst of the current mortgage refinancing boom because of low rates, Fannie Mae and Freddie Mac just announced a new half point fee. They say it's the result of market uncertainty, but real estate and mortgage industry leaders say it's a money grab that's happening at a very bad time for homeowners.   The Federal Housing Finance Agency announced the fee on August 12th saying there would be a new half point fee on most loans backed by Fannie and Freddie starting next month.   www.NewsForInvestors.com