Mortgage rates were little changed Wednesday in quiet trading. This morning, the Mortgage Bankers Association weekly purchase activity index declined by 3.0%, while the refinancing activity index plummeted 20.2%. The combined index reached its lowest level since November 2008. Average reported conventional 30-year fixed rates increased to 4.80%, not including fees. Results from today’s 10-year Treasury auction will be released at 1:00 PM.