Mortgage rates moved up today, but at a fairly tame pace in the bigger picture.  The rest of the week, however, may not be as tame.  There are multiple economic reports on tap with a history of impacting the bond market (which dictates rates).  The data gets most serious starting on Wednesday and finally culminates with 2 reports on Friday morning, one of which is the big jobs report. 

But economic data isn't the only thing that interest rates will need to worry about this week.  Remember how Wednesday was a big day?  That's because it will also play host to the latest official policy announcement from the Fed. 

Historically, the Fed announcements have been most interesting and relevant due to the risk that they would hike/cut rates or comment on the likelihood of future hikes/cuts.  Things are a bit more complex at the moment with the Fed ready to begin the process of ending its balance sheet reductions.  That's a fancy way of saying they'll have more cash on hand to do things like buying bonds--something that has a profound effect on rates.