New Mortgage Fees

If you are thinking about refi better get it done now.


This probably will increase refinance rate by at least 0.125%.


This is a bigger deal than a small change in rates. In context back in 2012 The Obama Administration imposed a fairly equal sized fee increase as this one it. The rationale was to have this fee increase and subsequent others to “pay for” extended unemployment benefits and construction projects. There is precedence for these kinds of rate or fee changes.

This fee increase was imposed immediately and on loans locked under prior price models. If any reader has an Agency loan level refinance under process and not closing this week, the lender making this loan will have to absorb a .50 hit in fee. Now multiply that expense by 5,000 to 10,000 loans in the pipeline. Smaller lenders already on razor thin margins will struggle hard to survive here. Some companies may refuse to honor pre-existing locks. It’s hard to say with authority what the ripple effect will be today, but bear in mind this isn’t just a small rate increase unfolding today.

Thanks for reading

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UK has removed stamp duty (aka transfer taxes)for homes upto $650K price untill next year spring.
here nothing change at local level.

Mortgage forecast: 2024,the%20fourth%20quarter%20of%202025.