Even the presence of volatility is volatile.  Here yesterday, gone today.  But "volatility of the presence of volatility" sounds too much like calculus to discuss any further.  Suffice to say,   Mortgage Rates didn't move much today. 

Some lenders are microscopically higher or lower in terms of closing costs, but Best-Execution remained the same. 

But before you consider what today's rates are, CONSIDER THIS.

 Today's Rates: 

  • BESTEXECUTION 30YR FIXED -   4.125%  some at 4.25%
  • FHA/VA - More 3.875% today, 3.75% still out there for some.
  • 15 YEAR FIXED -  Mostly 3.5%
  • 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: The absence of movement in rates today is no promise they won't be moving come Monday.  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.  With the increased volatility in the outlook, we'd lean more toward locking, EVEN THOUGH that volatility can swing both ways.   The possibility that rates get lower in spite of the increased disposition to lock is part of the frustration of  dealing with volatility.  But better safe than sorry.