This is a YouTube video titled "🚨 Refi Tax from Fannie Mae 🚨" containing a discussion by Lauren Johnson explaining the impact of a new rule from Fannie Mae and Freddie Mac related to refinancing interest rates following Covid-era forbearance programs, recorded in July 2021.
By adverse market fee from Fannie and Freddie was a pretty huge rule that came out last year that missed one of the headlines. So last year, due to Covid, many homeowners filed for forbearance to get extensions on their payments. And in response, Fannie and Freddie had to jump in and still make sure the banks and lenders were covered. So they took the brunt of those missed payments. In response, they said, hey, all refinances going forward are going to have an eighth of an interest rate. Tax is what it equates to, meaning all refi rates are now an eighth higher than the same person purchasing the same loan. So keep that in mind when you're seeing headline interest rates. Those are purchase rates. It's an eighth higher if you're going to. It's.
