I don't want to be handcuffed in a 7, 10, or even 15 year PPP (yes, I've seen 15 lately) then have rates plummet again to find that I am stuck with a hard PPP for another few years. 

Suppose borrower does not lock because he emails me at 7 pm and I'm not at work.But tomorrow maybe rates get dramatically better because Russia invades Syria and the Dow Jones plummets and Trump actually got elected and everyone on Wall St gets scared and sells stocks to buy safe things like 10 year tnotes and... mortgage backed securities (this is why they are correlated). 

Going by history, either the price of silver is going to sky rocket, or the price of gold will plummet, possibly a mixture of the two.I also keep my precious metals here at my house protected by my .45.If you don't have it in your possession then it is pointless when/if the economy collapses. 

Now rates have plummeted quite a bit and I am thinking of asking my lender to provide me rate lock float down option.

Is the bubble about to burst?

When I paid off massive amounts of debt my score plummeted as if I missed a year of payments in a day!

If values plummet, people still need housing and it opens the door for great investment opportunities.

The massive plummet in enrollment caused the Kansas City School District to close 21 schools in 2011, and a total of 30 schools in the last decade.  

People are so scared to go down there right now that prices have plummeted.

Then Stockton plummets during a crisis.