Mortgage rates were unchanged yet again today.  Given that rates are based on trading levels in underlying bond markets, it's no surprise to learn that bond investors have been hesitant to take things too far in either direction after pulling up slightly from the long-term lows achieved in early January.  The same could be said for the stock market, but replace early January with late December.

For either side of the market, the biggest lingering uncertainty is the fate of the government shutdown.  The extent to which a shutdown resolution would move markets remains to be seen.  But at the very least, there's a risk that a resolution would push stocks and interest rates higher in unison--at least temporarily. 

From there, it would fall to actual economic data to set the tone.  In that regard, bonds have a better chance of encountering good news.  They simply may have to endure a temporary spike between now and then.  If, on the other hand, the reestablishment of economic reports (many are currently on hold due to the shutdown) proves to be bad news for bonds, we're looking at a solid opportunity to lock in rates that are nearly as low as they've been for roughly 9 months.