Sorry to be back with you so soon, but as I finished writing this morning's post, we dropped about 5/32nds.  I was waiting to see if it was just another one of the "up-downs," of which we've had several this morning, but this one has brought us to new lows on the day. 

It's not as bad as it sounds.  The 5.5% coupon is only down to 101-07.  Nonetheless, if your lender came out with killer pricing earlier this morning, it might not be a bad idea to take the risk out of the market and lock.  If your closing is a bit farther out (more than a week), I still think floating justifies the risk.