From Matthew Graham at Mortgage News Daily: Mortgage Rates Recover Some of Last Week's Losses

Bonds are once again paying attention to weakness in stocks--it just happened to take a bigger drop in stocks that we saw last week. Despite the improvement in rates, we would still expect some resistance to the idea of rapid improvement unless the economic data begins to sound the same warnings as equities markets.

On that note, the most relevant econ data on the near-term horizon is Wednesday's Consumer Price Index (CPI), the first of the broad measures of inflation in the U.S. and one of the biggest potential sources of volatility for rates. [30 year fixed 6.72%]

emphasis added Tuesday: