Mortgage rates moved lower last week, however it was not easy has rates were all over the place.Wh

en the economy shows signs of brightness -- like it did Monday and Tuesday -- mortgage rates tend to rise. 

This is because markets are currently equating growth with inflation and inflation pressures mortgage rates higher.

The major reversal last week started with Federal Reserve Chairman Ben Bernanke's testimony to Congress. 

The chairman made three important points, and repeated them throughout his two-day affair.

1. Inflation is not dead
2. More economic stimulus will create more inflationary pressures long-term
3. Short-term economic weakness is more concerning that long-term inflation

Chairman Bernanke implied that the Federal Open Market Committee will stimulate the economy as needed at its next meeting, March 18. 

Markets are anticipating another half-point drop in the Fed Funds Rate.

This week, there are 14 separate speeches being made by various members.

Starting with Philadelphia Fed President Charles Plosser. He feels that the fed is becoming irrrelevent in stopping inflation.  "'current monitary policy should be reversed quickly once the threat from financial markets abates."  this has driven rates higher.