Daily Market Update 2/8/12

Mortgage rates were little changed Wednesday in quiet trading.  Investors were mainly watching for progress on a Greek debt deal.  Stocks moved lower.  The Mortgage Bankers Association weekly purchase activity index rose 0.1% last week, while the refinancing activity index surged by 9.4%.  Average reported 30-year fixed rates fell to 4.05%, not including fees.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.

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