Well, compared to last week's assortment of economic news, this week is going to be a breeze.  Being released this week are one quarterly report, and two monthly reports.  With regard to importance of these publications, the quarterly takes more precedence.  To relate this to mortgage pricing, we will most likely have a flat week (as long as the stock markets don't run the roller coaster ride that they had going last week). 

The 3rd Quarter Productivity report is scheduled for release on Wednesday which is anticipated to mirror the second quarter's figure of 3.1%.  If this happens, it shows expansion of the economy without inflation (or at least controlled inflation) which is good for the bond market.

Friday morning will be the scheduled date of release for the two other reports.  The Goods and Services Trade Balance is the first of the two reports which will gauge the size of the trade deficit (U.S.), but typically doesn't have a significant effect on the mortgage rates/pricing or the bond market.

Index of Consumer Sentiment (University of Michigan) will be the second release on Friday. This is a measurement of consumer confidence, but is expected to reveal lower numbers than October.  This most likely will not have that great of an impact on the mortgage pricing.

Also this week are 10-year Note and 30-year Bond auctions (Wednesday & Thursday). These events could definitely swing the bond markets either way, so keep an eye out for these results.

So, in conclusion, there most likely will not be all too much movement in mortgage pricing throughout the week unless something drastic happens in the market.  I would recommend to lock your loans this morning, but I do not think that the rates are going to be increasing (as stated above).  The reason is because if you look at the risk vs. reward, there is more risk in floating.