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.

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.

Mortgage rates are down and still under 7%. Today’s national average on a 30-year fixed-rate mortgage is 6.88%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 6.