'Adverse market fee' means Fed Taxes

Refinancing your mortgage will cost more thanks to a new fee 

If you're in the process of refinancing your mortgage, you may end up paying more than you expected. Fannie Mae FNMA, -1.80% and Freddie Mac FMCC, -1.83% said Wednesday that they will start charging a 0.5% “adverse market fee” on all refinances, including both cash-out and non-cash-out refis.

This is happening at all levels of consumer credit.  And this is highly deflationary.