Daily Market Update 1/13/10

Mortgage rates held steady Wednesday ahead of this afternoon’s 10-year Treasury auction. The Mortgage Bankers Association weekly purchase activity index rose 1%, while the refinancing activity index rose 22%. Average reported 30-year fixed rates fell to 5.13% with 0.7 points last week. The Beige Book, a survey of economic activity conducted by the Fed’s 12 regional banks, will be released at 2:00 PM. Several key economic reports, including Retail Sales and the Consumer Price Index, will come out in the next two days.

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