This week brings us the release of four economic releases that could affect mortgage rates, none of which are considered to be key reports. However, in addition to the data, we also have an afternoon filled with Fed FOMC events midweek. After the major selling in bonds over the past week or two, we could certainly use some favorable news. Unfortunately, it likely will not come in the economic releases. The Fed events could help reverse the negative momentum in bonds and mortgage pricing, or possibly cause another leg higher. In other words, despite the lack of key data, it still is going to be a highly important week for the markets.