Good news for home buyers

MGN Online
Tuesday, December 24, 2013 - 9:48am

Some good news if you're in the market for a new home. A mortgage fee hike that was set to take effect in April has been put on hold, and may be canceled. The increase would have hit loans backed by Fannie Mae and Freddie Mac.

It was meant to protect lenders from risky borrowers,but housing experts say the fees would have added thousands of dollars to all mortgages insured by Fannie and Freddie.

The incoming chief of the Federal Housing Finance Agency says more analysis is needed.


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