Daily Market Update 9/10/14

Rates faced upward pressure Wednesday as concern that the Fed will raise rates sooner than expected hurt mortgage-backed securities.  This morning, the Mortgage Bankers Association weekly mortgage application index fell to its lowest level since December 2000.  Average conventional 30-year fixed rates rose to 4.27%, not including fees.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.

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