Sometimes a Tuesday is just a Tuesday for mortgage rates.  In the present week, any day is capable of generating some volatility due to one of several economic reports on the calendar.  This isn't always the case, but the first week of any given month is action-packed when it comes to data.

Econ data is one of the top reasons that interest rates might move higher or lower on any given day.  Today's most relevant report was the Job Openings and Labor Turnover Survey (JOLTS).  While this is fair stale as far as labor market data goes, it has nonetheless proven to be a capable market mover.

JOLTS may have been worth some more volatility today, but it carried a mixed message.  On one hand, job openings moved higher (bad for rates). On the other hand, a separate part of the report showed fewer people giving up their employment (good for rates). 

The offsetting penalties limited the overall reaction, but it was nonetheless "bad for rates."  That said, the average lender is still right in line with yesterday's latest levels because the bond market had improved overnight.  In other words, JOLTS data simply took bonds/rates back to where they were yesterday afternoon.