Big question isn’t whether rates will return to 4.25%, it’s whether they will continue to rise. Today was not kind, rates rose and we are at our highest levels in a month. Probably too late to lock today anyway, but if you were still able to get 4.5%, you sure could do worse. If you were to continue to float for another week, you could do a 15 day lock (which has better pricing than a 30 day lock), but there is no guarantee that rates won’t continue upward from there. If your lender doesn’t follow Mortgage News Daily, might want to point this site out to him/her so he/she can give future clients better advice on rate markets.