Mortgage rates inched higher Wednesday, continuing their upward trend. In economic news, January Retail Sales rose 0.1%, matching expectations. Import Prices increased 0.6%, mostly due to higher energy prices. The Mortgage Bankers Association weekly purchase activity index fell 10%, while the refinancing activity index declined 6%. Average reported 30-year fixed rates rose to 3.75% with 0.43 “points”, the highest level since September. Results from today’s 10-year Treasury auction will be released at 1:00 PM.