According to Kiplinger’s Magazine, mortgages purchased from banks and brokers by Fannie Mae and Freddie Mac will be getting a bit more expensive…again. Beginning next month a new series of fee increases, aimed at accounting for default risks, will begin to affect a large number of home buyers and mortgage refinancers. Borrowers with a credit score of 720 and higher and less than 15% equity in their homes will no longer qualify for a quarter-point discount. For the first time, anyone buying or refinancing a condo with less than 25% down will pay .75% of the loan amount, unless the term is for 15 years or less. Borrowers with less than 30% equity will pay more if their credit score is below 700, and borrowers with less than 15% down will pay even more, even if their credit is perfect. Also, under Fannie Mae’s new rubric, someone with a $250,000, 30-year loan with 15% equity and a credit score of 699, will pay $2,500 more for a cash-out refinance than they would have before April. In short, if you are thinking of refinancing or purchasing a Boston property, do it NOW. It will be far more expensive in April.