Very low volume and mostly uneventful day. Volume was very low today and the prices stayed relatively flat. Some lenders repriced for the better and others for the worse.
As was anticipated at the end of last week, we are seeing some regression today. There is a strong possibility this will continue the rest of the week unless the economic reports are extremely negative.
I'm holding with Friday's recommendation which is, if you like the rate and don't want to lose ground, or are closing this week, locking is the safer bet due to technical factors. (this could all change tomorrow).
Of course I'm hoping for weak employment data on Friday which could tip the scales back in our favor, but whether you think technical analysis is voodoo magic or not, the trends have held true nicely over the past several months. If they continue to hold true, this week should continue to be "not so good" for rate improvements.