The Fed meeting concluded on Wednesday by leaving the fed funds rate unchanged at .25% (Prime is currently at 3.25%). Fed also reiterated the fact that given sluggish job recovery (even with positive note on GDP growth at 5.6% highest in 6 years) that sustainable economic recover may be difficult to achieve.  The central bank also reaffirmed that it expected to complete its $1.25 trillion purchase of mortgage backed securities by March 31. Invariably that will affect trends on mortgage rates (guess which direction rates will he heading?).