Consumer Price Index (CPI)
Overall, Friday is likely to have the largest change in mortgage rates due to the major inflation data being released (CPI). Tomorrow is a good candidate for calmest day, unless something unexpected happens. The benchmark 10-year Treasury Note yield tried to break below the 4.00% threshold last week, but failed to do so. It is testing again this morning. Failure to move below that threshold and staying would be troublesome for mortgage shoppers because it makes a trend in the upward direction more likely and mortgage rates tend to track bond yields. This week's trading could help solidify the direction of yields and mortgage rates over the next few weeks, so it would be prudent to keep an eye on the markets if still floating a rate and closing in the near future.