Daily Market Update 11/13/13

Rates inched lower Wednesday as a decline in stocks boosted mortgage-backed securities.  This morning, the Mortgage Bankers Association weekly purchase activity index fell by 1%, while the refinancing activity index declined by 2%.  Average reported conventional 30-year fixed rates rose to 4.44%, not including fees, the highest level in a month.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.

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