Rates inched higher Wednesday reflecting a decline in mortgage-backed securities late Tuesday. This morning, the National Association of Realtors reported April Existing Home Sales fell 2.3% to an annual rate of 5.57 million units, below expectations. Severe inventory shortages were cited as a cause for the decline. Detailed Minutes from the May 3rd Fed meeting will be released at 2:00 PM. Investors will be looking for clues about the timing of future rate increases. Results from today’s 5-year Treasury auction will come out at 1:00.