The days of asking a loan officer what his interest rate is are going to end. Now the question will be what it should have been all along, what is your credit score, how much are you borrowing and at what loan to value. Both Fannie Mae and Freddie Mac have announced new risked based pricing models that will take effect on or about March 1, 2008 for all loans delivered to them. That means that by the end of 2007 if a loan is originated it will in all probability be price based on the risk base models. Here are the links to the Fannie and Freddie announcements: guides and bulletin.
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