Markets are usually quiet leading up to and immediately following Thanksgiving, and mortgage rates this year were no different. Rates were flat over the past week, holding steady through the holiday and remaining near their lowest levels in more than a month.

However, a return to recent volatility may be on the horizon. The coming weeks will be telling for rates and for the economy overall. International trade tensions — which have loomed over the U.S. economy and increased uncertainty surrounding the global economy’s ability to maintain growth — could get some resolution after next week’s G-20 Summit, as the U.S. and China appear poised to consider a trade deal.

What’s more, recent comments made by Federal Reserve officials, including Chairman Jerome Powell on Wednesday, suggest a less predictable path of monetary policy by 2019. Stock markets reacted strongly to Chairman Powell’s comments, and mortgage rates could see a sharp increase in the immediate aftermath.

Those factors could be compounded on Thursday with the release of inflation data, to which markets will be paying close attention. Price levels have remained in check despite a tight labor market and strong economic growth — usually indicators of growing inflation. If this trend continues, and price growth remains lower than expected, a move to fewer rate hikes would appear more likely.