Currently, the bond market is 23/32 up while the Dow is down 204 points and the Nasdaq is down 37 points.  With this going on, we could definitely see a good amount of improvement in today's rates; most likely about .25 discount points in our favor.

No reports are scheduled for release today, as I mentioned earlier this week, but the mortgage rates will be heavily weighed by the stocks.  The primary reason for the dip in the stock market is the publication of corporate revenue/earnings, apparent credit fears in investors, and the overwhelming price of oil ($90 per barrel).  Quite honestly, the price of oil is what is killing me right now - when are we switching to battery and solar power?

Based on the stock market and the bond market right now, we could see more improvement throughout the day today in rates, and I would definitely suggest not locking your loans for the next week (give or take a day).  Hypothetically, if stocks continue to decrease throughout the day, we may see an eight to a quarter of a discount point improvement!

That being said, in conclusion, I would advise a float on all of your loans whether they are closing next week, or in 90 days.  Keep an eye on the stocks and the bond market!