Mortgage rates made their biggest move of the week today, although the competition wasn't very stiff, considering yesterday's microscopic improvement was the first noticeable change.  Today's improvement was certainly bigger, but still microscopic by normal standards.  Few, if any lenders will be quoting lower "contract rates" today. The gains would instead be seen in the form of slightly lower closing costs.

As for the contract rates themselves, 4.375% remains the most prevalent conventional 30yr fixed quote for top tier scenarios.  Several lenders still up at 4.5% and a few are down at 4.25%. Barring the unforeseen, lenders will have little incentive to make meaningful adjustments to rates between now and the end of the year, thus decreasing the risk and reward associated with a "lock vs float" decision.  

Bond markets close early today and will be fully closed on Monday in observance of Christmas.  As such, lenders won't be updating rate sheets again until next Tuesday.  Between now and then, Merry Christmas and Happy Holidays to you and yours!