U.S. Fed buys $29.7 billion of mortgage bonds, sells $8 billion By Reuters

U.S. Fed buys $29.7 billion of mortgage bonds, sells $8


© Reuters. FILE PHOTO: The Federal Reserve on Mayday in Washington, United States

NEW YORK, Sept 10 (Reuters) – The Federal Reserve bought $29.69 billion of agency mortgage-backed securities in the week from Sep. 3 to Sep. 9, compared with $24.768 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 $8 billion in mortgage securities guaranteed by Fannie Mae (OB:), Freddie Mac (OB:) or the Government National Mortgage Association, or Ginnie Mae, in the latest week. It sold none the prior week.

(New York Treasury Desk +1-646-223-6300)

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