Daily Market Update 4/13/11

Mortgage rates were little changed Wednesday. In economic news, March Retail Sales rose 0.4%, close to forecast. The Mortgage Bankers Association weekly purchase activity index fell by 5%, while the refinancing activity index decreased by 8%. Average reported 30-year fixed rates rose last week to 4.98%, not including fees. Results from today’s 10-year Treasury auction will be released at 1:00 PM. The Beige Book, a survey of economic activity by the 12 regional Federal Reserve Banks, will be released at 2:00 PM.

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