Rates were little changed Monday. No economic data will be released today in the U.S., so investors are focusing on events in Europe. There have been reports this morning that inspectors have rejected some of the Greek government’s austerity measures, which means that Greek leaders will need to agree on new measures to receive additional aid. The Federal Open Market Committee (FOMC) of the Federal Reserve will be meeting on Wednesday and Thursday to discuss monetary policy. Investors are expecting the Fed to announce new economic stimulus measures in the form of a third round of “quantitative easing” (QE3), whereby the Fed purchases long-term bonds and/or mortgage-backed securities (MBS) in an effort to keep rates low. Also this week, the Producer Price Index will be released on Thursday, the Consumer Price Index, Retail Sales, and Industrial Production will come out on Friday. MBS markets may be volatile toward week’s end.