Interest Rates - Long term fixed vs Commercial rates?

[Jim Goebel]

We are closing on 3 loans later today.  So, the time to probably push back on rates, if there ever was an option to do that has probably passed.  However, we were quoted rates back I think in early March, which in a quick google search, it appears at least that the long term fixed rate mortgage rates have dropped about .2% - which would be significant enough to discuss/shoot for, obviously.  The banker had communicated that rates might change and I think we were quoted in the mid/high 5%, perhaps 5.88% if my memory serves.  

I'm wondering if anyone has any feel for the relationship between how long term fixed stuff moves, and commercial mortgage rates move - should we be expecting that .2% drop, maybe a little more?  

I see that the Fed's prime rate is at 5.50%

Any feedback appreciated.  Time is a little of the essence if any thoughts to be of use for our meeting/closing at 1:30 PM CST