Its a big day today.  The Fed is going to be meeting this afternoon and those minutes may indicate if the Fed is going to continue to keep rates low for an extended period, if they are going to extend the mortgage bond purchase program, and if they see anything in the markets that we may not be seeing.  With Bernanke having trouble getting a easy nod to extend his term as the Federal Reserve Chairman who knows how he may be acting today...will this uncertainty change how he would have otherwise acted?    Also today there will be about $42B in bonds issued...more government $$ being borrowed which could put pressure on rates.  And then tonight Obama is having his State of the Union address...lots of issues for him to cover and the markets may love, or hate, what he has to say so tomorrow we could see some action on the equity markets which usually bleeds into the bond pits.   As I have been saying for weeks now...LOCK YOUR RATE if you are in contract to purchase a home or in the process of a refinance.   There is too much volatility and uncertainty to put your rate at risk and rates are very low right now.