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The Federal Housing Finance Agency announced it will increase fees on certain home loans starting Apr. 1, 2022.

These new upfront fees will affect high–balance and second home mortgages sold to Fannie Mae and Freddie Mac. And, as is the case with most fee hikes, the cost will be passed on to borrowers in the form of higher interest rates.

If you’re in the market for borrowing above the conforming loan limit or finally buying that vacation home, acting sooner than later could save you a lot of money.