Daily Market Update 6/11/14

Rates held steady Wednesday as stocks moved lower following a reduction in 2014 global economic growth estimates by the World Bank to 2.8% from 3.2%.  In other news, the Mortgage Bankers Association weekly purchase activity index rose 9%, while the refinancing activity index increased 11%.  Average reported conventional 30-year fixed rates rose to 4.34%, not including fees.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.

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