Mortgage rates were mostly sideways today although a few lenders offered token improvements.  When we talk about small improvements in "mortgage rates," we're often dealing with the "upfront cost" side of the equation that dictates the overall cost of financing.  The other, more obvious side would be the interest rate itself.  Upfront costs offer more of a fine-tuning adjustment.  Many borrowers wouldn't even notice today's improvements.  Others will see than as a couple hundred dollars. 

Today brought the big jobs report--traditionally one of the most important economic reports as far as interest rates are concerned.  At present, the jobs data is packing less of a punch, simply because strong, stable labor markets are fairly well established in the economic data.  It's not a surprise for investors, so there's less of a reaction in stocks and bonds (which drive rates).

For now, rates are as low as they've been in the past 2 weeks, but there's not an exceptionally wide margin between the highs and lows during that time.  The average lender continues quoting 4.0% on top tier 30yr fixed scenarios, although more aggressive lenders are slightly lower.