Well, I think we finally hit bottom (read: worst rates of the year). Today, the mortgage markets showed strength, and hopefully, with my fingers crossed, tomorrow we get off this low point. There's not a lot of economic data for the market to be looking for right now, until next week with Consumer Confidence and the monthly jobs report.
I still think there's major economic turmoil coming. I also think we will get one more shot at sub-6% rates, and this time, anyone who didn't take their shot needs to take it. I've read some very eye-opening reports about segments of the housing and financial markets that still have not impacted the numbers yet. But they will, and it won't be good. I personally will be reducing my stock exposure for a while. We haven't hit the bottom yet, and when this is all done, it might even look worse than 1929 did.
At least I paid under $4/gallon to fill my tank last night...
Lock/Float? I don't like to do this, except with my current client list. But, for today, since we are about to break out from this 4 day range (I hope), I'd say wait and see until tomorrow at least. Long, long term - I'm floating.