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Mortgage rates are pushing lower today on weaker-than-expected data about the economy. 

Rates go up, rates go down. 

Rates go up, rates go down. 

Rates go up, rates go down. 

And these aren't small movements, either! Since last week's FOMC announcement, mortgage rates are down by as much as half of a percent, depending on the home loan product.

The yo-yo action should be cause for concern. 

Yes, mortgage rates are unpredictable and can change on an hourly basis under extreme conditions, but the velocity at which rates are changing directions is enough to frighten anyone.

Remember that many lenders offer a floatdown service in case rates drop during your lock period, but absolutely no lenders offer a "Hindsight is 20/20" service to let you lock in yesterday's rates.

If the payment looks good, get it locked.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.