Tomorrow we get the most important economic report, the Employment Situation. If this data indicates fewer job losses than expected, mortgage rates could rise very quickly. If worse than expected we could see an improvement to rates; however, I am going to continue to advise locking because lenders have proven themselves reluctant to pass along lower mortgage rates once 4.50% is reached, which we saw earlier this week. If you can lock today at 4.625%, why risk floating if lenders won’t offer rates below 4.50%? Not much to gain but there is a potential for a quick and large move higher with rates, so much to lose. ...