Daily Market Update 3/29/11

Mortgage rates were mostly unchanged Wednesday in light trading. In economic news, payroll firm ADP forecast a net gain of 201,000 private sector jobs in March ahead of this Friday’s Employment Report, a bit less than expected. The Mortgage Bankers Association weekly purchase activity index fell by 2%, while the refinancing activity index decreased by 10%. Average reported 30-year fixed rates rose to 4.92%, not including fees. Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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