Mortgage rates were unchanged again today, despite moderate weakness in underlying bond markets. Bonds are the primary ingredient used in determining mortgage rates, but the timing of market movement and lender preferences can result in discrepancies between the two. For instance, if market weakness happens late enough in the trading day, many mortgage lenders will wait until the following day to do anything about it in terms of updating their rate sheet offerings. Additionally, the bonds that dictate mortgage rates can trade slightly better or worse than the mainstream bond market (essentially, US Treasuries).
Both of the those factors are in play today. Treasuries weakened more noticeably than mortgage-backed bonds, primarily because Treasuries had strengthened at a faster pace last week. In other words, mortgage bonds have been holding steadier while Treasuries have been more volatile. On top of that, the most prominent weakness was right at the end of the trading day. If bonds don't move much overnight, the average lender would likely be offering slightly higher rates tomorrow morning.
In the bigger picture, rates have been sideways for the past 3 days after bouncing up a bit from the lowest levels since early 2018. If rates are able to avoid undergoing a very big correction, it would bode well for longer term improvement potential, but I'd emphasize that such a thing could be a waiting game. It's also not without its risks. Even if traders are feeling pretty optimistic about rates right now, an end to the government shutdown combined with strong economic data could make for a quick jump to higher rates.