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Removal of adverse mortgage refinance fee is 'great news for homeowners,' expert says


Removal of adverse mortgage refinance fee is great news for homeowners, expert says - here s why
By Kelsey Ramirez
article
The Biden administration s new head of the FHFA removed the adverse market refinance fee from mortgage refinances. Here s how it impacts you. (iStock)
Many homeowners were recently given an incentive to refinance their mortgage, after President Joe Biden’s administration on Friday
removed the controversial adverse market refinance fee, which was added in 2020 and tacked on to refinanced mortgage loans backed by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
The 0.5% fee was put in place during the coronavirus pandemic to help ease the financial burden that the GSEs faced. Both companies set up policies to help homeowners struggling to make their mortgage payments. But after Aug.1, 2021 that fee will cease to exist, and more homeowners can save money by refinancing their mortgages.  ....

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Federal student loan rates jump nearly 1% in July: How to make the most of your options


Federal student loan rates jump nearly 1% in July: How to make the most of your options
By Kelsey Ramirez
Interest rates on federal student loans rise for the upcoming school year. Here are your options. (iStock)
Interest rates on federal student loans increased by more than two percentage points at the beginning of July, jumping from 3.71%
last school year
to 3.73%. Federal loan rates are fixed, and each year the loans have a new fixed rate, resetting on the first of July. Parents and students have several options available to them when determining how to pay for the school year ahead. ....

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