Mortgage interest rates have dropped again. Finally. Things remain somewhat volatile right now, but over at Lenderama, there is optimism that mortgage interest rates could drop again:

This week will be a pivotal one for bonds on both the fundamental and
technical sides.  Bonds have been pushing higher over the last two
weeks and have broken through their 25-day moving average.  They are up
against this level and the downward trend line right now, so if they
can hold their own this week, we can say that trend has been broken and
rates will be heading lower once again.

Mortgage interest rates, while slightly and indirectly affected by the Fed funds rate (which remained steady last week), are more affected by what bonds are doing. So when you are looking at mortgage interest rates, it can help to know where US Treasuries are headed.