Daily Market Update 9/25/13

Mortgage rates held steady Wednesday as the market showed little reaction to today’s economic data.  August Durable Goods Orders rose 0.1%, slightly above expectations.  New Homes Sales increased by 7.9% to 421,000 annual units, in line with forecast.  The Mortgage Bankers Association weekly purchase activity index rose 7.0%, while the refinancing activity index increased 4.9%.  Average reported conventional 30-year fixed rates fell to 4.62%, not including fees.  Results from today’s 5-year Treasury auction will be released at 1:00 PM.

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