The August refi boom continues as rates bounce around near record lows. This is happening because rates drop when bond prices rise, and investors continue to regard mortgage bonds as a safe haven from a weak U.S. economy, Europe’s debt crisis, and ironically, the U.S.’s downgrade.

There’s always a rush to lock rates on dips, and extreme daily rate swings only raise the urgency. But just because your rate is locked doesn’t mean your loan will close. Here’s a guide I wrote on Mortgage News Daily to help you make sure it does: Refi Roadmap: A Locked Rate Isn’t A Closed Loan