After jumping for two days, 30-year mortgage rates have now followed that with a two-day decline. Rates have retreated for many other loan types as well.

Forecasts for the housing market haven't changed much, with stubbornly high mortgage rates keeping prospective homebuyers on the sidelines. After the average rate for a 30-year fixed mortgage inched past 7%,

If you expect mortgage rates to drop after locking in your rate, having a float-down option can help you take advantage of a better deal during the closing process.