For the first time since September, Mortgage Rates have held steady or improved for 3 straight days.  Granted, the actual level of improvement is minimal, with Best-Execution moving only .125 to .25 at most, but it's the best few days we've seen this month, and worth noting. 

Please also note that there is a high level of variation between lenders' offered rates.

 Today's Rates: 

• BESTEXECUTION 30YR FIXED -   4.125% - 4.0% possible in some scenarios
• FHA/VA - 3.75%.  Some at 3.875%
• 15 YEAR FIXED -  Mostly 3.5%, 3.375% back in the picture
• 5 YEAR ARMS -  low 3% range, huge variations from lender to lender.

Ongoing Guidance While Best-Ex Is At Or Below 4.25%: 

New Guidance: Markets are poised to move in either direction.  While we're encouraged by rates' recent ability to draw a line in the sand at 4.25%, we can't rule out upside risks from European headlines or domestic economic surprises.  If you're now looking at a better rate than you once were, either you cash in your gains, lock, and move on or you float to see if you can get an extra eighth and resolve to lock if rates rise back to 4.25% Best-Execution levels.  If you moved down to 4.0 today, please note the graphic above and the suggestion that we'd lean even more heavily toward locking.  Remember that any mention of floating really only applies to those scenarios who are flexible enough to run the risk of paying more closing costs, a higher rate, or potentially losing a deal altogether.  All others shouldn't really try to beat the market when rates are as close as they are to all time lows.