Mortgage rates were little changed Wednesday despite the release of weaker than expected housing data. March New Home Sales fell by 14.5% to 384,000 annual units, far below forecast. Sales declined by a surprisingly sharp 13.3% year-over-year. Separately, the Mortgage Bankers Association weekly purchase activity index dropped by 3%, while the refinancing activity index fell by 4%. The average reported conventional 30-year fixed rate rose to 4.49%, not including fees. Stocks moved lower. Results from today’s 5-year Treasury auction will be released at 1:00 PM.