No Surprises from FedThe biggest event of the week, Wednesday’s Fed meeting, was slightly positive for mortgage rates. The economic data released over the past week had little impact. As a result, mortgage rates ended the week a little lower. As expected, there was no rate hike at Wednesday’s Fed meeting. The Fed statement modestly upgraded its assessment of the U.S. economy. According to the Fed, “Near-term risks to the economic outlook have diminished.” Notably, the labor market has “strengthened” and consumer spending has been “growing strongly.” Despite the more upbeat statement, the consensus view of investors is that there is still just a 50 percent chance of a federal …