Volatility is always a risk surrounding 3 day holiday weekends when it comes to markets and mortgage rates, but this time around, things have been very calm. The average top-tier 30yr fixed rate remained almost perfectly flat versus last Thursday with the MND index technically falling by 0.01%.

This week's calendar of scheduled events is less consequential than last week's. After today, there is essentially no big-ticket economic data.

In the bigger picture, 30yr fixed rates are near the center of their range over the past 6-7 weeks.  Collectively, that range represents the highest levels in roughly 10 months with 30yr fixed rates averaging just over 6.6%.