U.S. Fed buys $7.5 billion of mortgage bonds, sells none
Reuters
Published May 19, 2016 04:07PM ET
U.S. Fed buys $7.5 billion of mortgage bonds, sells none
NEW YORK (Reuters) - The Federal Reserve bought $7.546 billion of agency mortgage-backed securities in the week from May. 12 to May. 18, compared with $7.677 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
In a move to help the housing market begun in October 2011, the U.S. central bank has been using funds from principal payments on the agency debt and agency mortgage-backed securities, or MBS, it holds to reinvest in agency MBS.
The New York Fed said on its website the Fed sold no mortgage securities guaranteed by Fannie Mae (OB:FNMA), Freddie Mac (OB:FMCC) or the Government National Mortgage Association, or Ginnie Mae, in the latest week. It sold $300 million the prior week.
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Written By: Reuters
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