Rates have reverted upwards slightly this morning, making the 30 yr fixed somewhere between 5.87%-6.00% PAR with the 15 yr between 5.5% and 5.625%--(closer to the top ends) . So we're back on the upswing as a result of the Stock markets very small gains. Comments from Fed Chair stated that he believes the 2nd half of the year to be "somewhat better". But, he still says that there will most likely be no more Bank Int rate cuts as there is still an uneasiness about short term inflation. Cuts may do more harm than good.

Several factors played a part in the market gains we are seeing now, but more problems from the financial sector has kept the better than expected news (from factory orders (excluding transportation), finished goods and non-durable goods rising, and oil prices showing signs of a possible cap ) from allowing investors to take hold of the good news and run with it.

So, gains are mostly small but, as we know, generally Stocks up means Bonds down and rates up. And, the other component in rate watching is that 10 year note which is back above the 4.00% mark at 4.01%--again a downward signal for Bonds.

But, again rates are going to adjust all week long, so locking may be wise.. my opinion only...your transaction deserves individual advice.