Off The Wire
U.S. Fed buys $3 bln of mortgage bonds, sells none
NEW YORK, March 1 (Reuters) - The Federal Reserve bought $2.985 billion of agency mortgage-backed securities in the week from Feb. 22 to Feb. 28, compared with $3.393 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 , Freddie Mac or the Government National Mortgage Association, or Ginnie Mae, in the latest week. It sold none the prior week. Keywords: MARKETS MORTGAGES/FED
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