Mortgage rates moved higher Wednesday following yesterday’s Fed announcement. Investors expressed increased concerns about inflation and lower expectations for additional quantitative easing by the Fed. Mortgage-backed securities were also hurt by sharply higher stock prices. In economic news, Import Prices rose by 0.4%, less than expected. The Mortgage Bankers Association weekly purchase activity index jumped 4.4%, while the refinancing activity index fell 4.1%. Average 30-year fixed rates remained unchanged at 4.06%, not including fees. Results from today’s 30-year Treasury auction will be released at 1:00 PM.