Today (04-November-2013) at 04:03 UTC an minor earthquake swarm took place on the Reykjanes ridge. The largest earthquake in this swarm had the magnitude of 3,2 and the depth of 12,2 km.
Earthquakes are no uncommon in this area and there have been several earthquake swarm in past few weeks. Currently there are no signs of volcano activity taking place at this location and there are no clues or suggestions that such event is about to take place at present time. The largest earthquake did appear clearly on my geophone network and it can be viewed here on my geophone website.