Daily Market Update 9/11/13

Mortgage rates were little changed Wednesday in quiet trading.  This morning, the Mortgage Bankers Association weekly purchase activity index declined by 3.0%, while the refinancing activity index plummeted 20.2%.  The combined index reached its lowest level since November 2008.  Average reported conventional 30-year fixed rates increased to 4.80%, not including fees.  Results from today's 10-year Treasury auction will be released at 1:00 PM.