Rates hold steady, BUT.....

We have broken a key resistance point in the bond market, as yields are now over 3%. In predicting where rates are going to go, we are always looking for "floors and ceilings" When we break through a "floor" (a point of resistance that we kept bouncing off of) rates will improve and the old floor becomes the new ceiling (a point of resistance that we keep hitting out heads on). 3.00 in the bond market was a ceiling, it is now a floor. Until we break that floor again, rates are unlikely to improve. With that, I am now STRONGLY recommending that you lock your interest rate while they are still at obscenely low levels. And of course, you can find today's mortgage rates on my daily rate chart.