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The News from the Rappahannock.

The news from the Rappahannock continues to be of the most absorbing interest. Our afternoon dispatches indicate a change in the position of affairs as described in the JOURNAL of yesterday morning. The rebels are reported to have re-occupied Fredericksburg, our forces having been compelled to fall back. The heights in the rear of the town were occupied in part by our forces, and in part by the rebels.

Tho fighting at Chancellorville on Monday seems to have been less sanguinary than was expected. Gen. Hooker has fortified his position, and is prepared for an advance at the proper moment.

The rebels are believed to have received large reinforcements. On the other hand Gen. Heintzleman is reported marching from Washington with thirty thousand men to reinforce the Army of the Potomac. Hooker holds his own at Chancellorville pressing hard upon the enemy's left, while the reoccupation by the latter of Fredericksburg, if he is still held in check, by our forces on the north bank of the Rappahannock, cannot give him any important advantage. Fighting was no doubt renewed on Tuesday, of which the latest night dispatches may give us some information. Issues of the most momentous importance depend upon the events of the present week, and the whole nation hangs in breathless suspense on each click of the telegraph.