Mortgage rates faced upward pressure Wednesday ahead of this afternoon’s Fed statement. In economic news, New Home Sales rose 5.7% to 389,000 annual units, slightly above forecast, to the highest level in two years. The Mortgage Bankers Association weekly purchase activity index fell by 8.3%, while the refinancing activity index declined by 12.9%. Average reported 30-year fixed rates rose to 3.63%, not including fees. The Fed announcement will come out at 2:15 PM. No major changes in monetary policy are expected.