Because arrows are literally bouncing off of me. I still take the full brunt of the blow, but if someone shoots me, there's a 50 percent chance it bounces off the ground and I can pick it up. A nice way to get some of the more expensive arrows, but peculiar nonetheless.

Anyone else experiencing this?

nope.

I haven't experienced arrows bouncing of me, but I have noticed that arrows often bounce of enemies.

I have notice that when I tag a bandit or other mobs that the arrow will kill/hurt em but bounces back at me every once and a while and it's not happening to the ones wearing armor, it's happening to the ones in leather or fur, I could understand it if they were wearing iron/steal armor.

I've only noticed it when it made sense. i.e. a character (or myself) wearing heavy, high quality armor, blocking it with a shield, or (and this happened to me twice) my arrow hitting their weapon shaft.

Have you had an arrow bounce off your knee? I'm sure that ALL the guard's would be angry about that!

I've seen that happen to some enemies like the dwarven centurion, etc. I don't remember it happening to me, though.

Hmm, I must be sponge then, because I look like a Porcupine after most skirmishes with bow users. I have to open up a corpse and drop all the arrows that are shot at me.