On 7/16 Fannie Mae and Freddie Mac decided to remove the 50 basis points fee that were adding to the rate of all conventional loans.
This was added after COVID and I am super happy it is being removed.
The removal of this costs will decrease rates by about .25% for most borrowers.
Maybe you or someone you know felt the rates were to high or that it was not enough savings. Could be time for another look.
As always you can find this and other episodes on iTunes and wherever you listen to your favorite podcasts.
As well as video versions of our episodes on YouTube at the links below!
Let me know if you have any questions or concerns.
Thank you for watching and listening, have a rate day!
Born and raised in Southwest Florida, I have been in the Mortgage business since 2001 I'm a grizzly, battle tested mortgage veteran. I am also the Host of Rates & Reels, which is the most popular fishing show in Southwest Florida, hosted by a guy named Tim. In my spare time I love spending time with my family, coaching baseball, and anything else my kids or wife want me to do. I would be happy to help you or someone you know with any of your Mortgage needs.
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