Can a declining market designation affect your mortgage interest rate?

I am at the end of refinancing in Chicago, and have had both loans approved by lenders. My mortgage broker says that Fannie Mae needs to run a AVM at the last hour, and if I am deemed to be in a "declining market" , that will affect the interest rate I get on my loan. (I have a condo , and it was already physically appraised a month ago and came in at about 40 grand more than I bought it for 3 years ago.) I though a declining market designation only affects my loan-to-value ratio I am required to have, not the interest rate...