Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
The Consumer Price Index(CPI) report came out today with the overall numbers coming in .1% higher than expected and the core prices (no energy or food) came in at expectations. This is rather interesting because those same numbers from the Producers were lower in yesterday's report.
This could signal that since consumer prices are rising, i.e. inflation is rising, the Fed will not be as ready to lower the Federal Funds rate so quickly. Remember that though the Fed is charge with attempting to keep the economy on an even a keel as possible, it still has to look at all factors.
Technically speaking - the FNMA 5.5% 30 year bond is still caught in a narrow trading range. Usually when the CPI deviates on the higher side, one would expect bonds to come tumbling down, especially being in the overbought range.
One should be very cautious today. I am changing to a more conservative stance to
... 
lock.
To learn why one should Float or Lock -
Check out Should I float? Should I lock? & Reasons to Float or Lock
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