Mortgage rates moved back up today after ending last week on a positive note.  Improvements in rates have been uncommon so far in 2018.  In fact, we haven't seen more than 2 consecutive days without a move higher.  In that sense, today keeps the prevailing trend intact.  If there's a saving grace, it's that rates didn't quite rise back above last week's highs.

If there's a downside (whatever the opposite of a "saving grace" might be...), it's that rates remain in line with the highest levels in more than 4 years.  While we COULD see some relief at some point, there's no telling if that would be a legitimate attempt at a ceiling or merely be a temporary correction before another move higher.  Either way, betting on the emergence of a ceiling (via floating one's loan as opposed to locking) hasn't been an advisable strategy for nearly 2 months now.  Rest assured, we'll be discussing it as soon as that changes.