Mortgage rates jumped slightly higher last Friday after falling triumphantly through the first four days of the week. This rebound may have cast some doubt on the “victory” level, but things calmed down at the start of the new week. The average lender is right in line with the rates it saw on Friday (which are still well below the rates it saw the previous Friday). In fact, average lending is still about a quarter percent lower vs. July 6/7. While the bonds behind mortgage rate action will likely weigh in on some big decisions in the coming weeks, there is some quiet between now and the next batch of big ticket events. It’s not that the data scheduled for this week is incapable of causing volatility – just that the odds are lower when compared to things like the Fed’s announcement next week or the many economic reports to be released the following week.