Daily Market Update 2/26/14

Rates held steady Wednesday following the release of conflicting economic data.  January New Home Sales jumped 9.6% to 468,000 annual units, well above forecast.  Meanwhile, the Mortgage Bankers Association weekly purchase activity index fell 4% to the lowest level since 1995.  Average reported conventional 30-year fixed rates rose to 4.53%, not including fees.  Stocks moved modestly higher.  Results from today’s 5-year Treasury auction will be released at 1:00 PM.

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