Want to Refinance Your Home Loan with Record-Low Rates? Get Ready for a Hefty Fee

NPR, Aug. 15, 2020–Chris Arnold
Starting next month, all home mortgages that are refinanced will have to pay half of 1% of the loan. In other words, $1,500 for a $300,000 mortgage. “It will be passed along to the consumer,” says Bob Broeksmit, president of the Mortgage Bankers Association. He blames the Trump administration-appointed regulators at the Federal Housing Finance Agency who approved the new fee.