Rates still on the floor

Sorry about the lack of updates this week. There has been very little update as rates have moved sideways all week long, further proving that we have hit a firm floor with interest rates....for now. The milllion dollar question is, will we see 4% 30 yr fixed interest rates with zero points? I think it is possible, I would not bet on it though. With deflation now becoming a serious concern and the FED considering the idea of re-instating the MBS purchase program, we could see rates break range and move down even further. The problem is, this will also be an indicator as to how screwed our  economy really is. My advice is to lock in an interest rate at or below 4.5% now and discuss rate float down options with your loan officer. Rates are updated on my rate page. Have a great day!