I am probably asked about rates and/or closing costs more than anything else. Sadly, this isn’t the right question to ask. Why not? Nowadays, most every lender out there sells to one or all of the big 5 investors, FNMA (Fannie Mae), FHLMC (Freddie Mac), FHA, VA or USDA. Those investors recruit money to fund the loans they buy from us typically from selling something called mortgage backed securities, or mortgage bonds. Who buys these bonds? Probably you, in your 401k, mutual