Today has nothing of importance scheduled, so we can expect to see a fairly calm day for mortgage rates. The benchmark 10-year Treasury Note yield stands at a very important resistance point. If we close below the 2.25% level, it would give us great hope that mortgage rates will move lower. On the other hand, if that resistance is too strong, it’s a warning that mortgage rates are more likely to move higher in the immediate future than they are to move much lower. We do have some key events coming next week that carry enough importance to break that resistance level. However, that is assuming they bring us favorable results. Unfavorable results next week should easily push the 10-year back into the mid-2.3 range, causing mortgage rates to move higher.