Beginning as soon as next week, new, mandatory mortgage fees will push mortgage rates higher throughout Phoenix and nationwide. Fannie Mae and Freddie Mac are raising their respective "guarantee fees". Guarantee fees are fees that mortgage-backed securities providers charge to lenders for mortgage-related services including the bundling, selling and reporting of mortgage-backed bonds. Guarantee fees are also used to insure providers against credit-related losses. As announced by the Federal Housing Finance Agency, effective for all conforming loans delivered to Fannie Mae or Freddie … [Read more...]