Overall, Wednesday is the most important day of the week due to the FOMC items. There are no other key events this week, so we should see the most movement in rates mid-week. The calmest day could be tomorrow or today. I don’t believe we will see an overly active week for rates, but the potential is there. The benchmark 10-year Treasury Note yield is currently near its lowest level since early January . Before then, we have to go back to January of last year to find this level. There appears to be more room for yields to fall, assuming we don’t get significantly unfavorable news in the immediate future. That would be good news for mortgage shoppers since rates tend to track bond yields. However, please proceed cautiously if still floating an interest rate and closing soon as market momentum can swing without notice.