Mortgage rate trends are deteriorating today. General concensus is that the economy is stable in Europe causing investors to buy stocks instead of bonds which in turn causes mortgage rates to get more expensive. The rates haven't changed but the cost to get those rates has become more expensive. example: If you were quoted 3.625% with no points on Friday you might be paying 1/2 a point to get that rate today.
Odds are that rates will "bounce" back offering those who wait patiently on the side line to save some money by locking in at the right time. Timing is everything which is why I use this cool tool allowing me to monitor mortgage rates.
If you have more than 30 days before needing to close your loan I advise you "float". If you have to close in 30 days or less I suggest you lock immediately.
Contact us for a personal rate quote.