Mortgage rates have risen for the past three days after reaching historic lows last week. Strength in stock markets resulting from renewed optimism over Europe has hurt bonds and mortgage-backed securities. This morning, August Durable Goods Orders declined 0.1%, which was slightly below the consensus forecast. The Mortgage Bankers Association weekly purchase activity index rose 2.6%, while the refinancing activity index increased by 11.2%. Average reported 30-year fixed rates fell to 4.25%, not including fees. Results from today’s 5-year Treasury auction will be released at 1:00 PM.