Off The Wire
U.S. Fed Buys $3.4 Bln Of Mortgage Bonds, Sells None
NEW YORK (Reuters) - The Federal Reserve bought $3.374 billion of agency mortgage-backed securities in the week from Mar. 1 to Mar. 7, compared with $2.985 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 FNMA.OB, Freddie Mac FMCC.OB or the Government National Mortgage Association, or Ginnie Mae, in the latest week. It sold none the prior week.