Have we bottomed out on mortgage rates?

July 8th marked the best rates have been in the month of July. June 19th marked the date rates were the best in June. The first week of June reflected the most rates have increased in 2015 and for the most part, 2014. The high on July 8th was slightly better than the high on June 19th. However, to say that this is a reverse of the trend to better rates is uncertain. We lost a tremendous amount of yield toward the end of last week and the beginning of this week. Today, we realized a decent rebound. I would advise clients to float their interest rate if they are looking to close in 30-60 days. If they are looking to close within 30 days, I would suggest looking at a rate lock.