In the mortgage and real estate space, interest rates are still pretty low, and competition is cooling for limited housing supply somewhat. Here’s what else you need to know.
1. Goodbye to FHFA’s mortgage refinance fee
The Federal Housing Finance Agency announced Friday that it will end the 0.5 percent fee on most mortgage refinances as of August 1. The announcement is a boost for consumers, who are likely to benefit from lower interest rates when they overhaul their mortgages. The fee applied to loans valued at $125,000 or more.
2. Mortgage rates head down again
The average rate on a 30-year fixed mortgage fell this week to 3.11 percent, its lowest level since February. The dip is thanks in large part to the perception that inflation risk has diminished, and signals from the Fed that they will keep propping markets up for the time being. With most…