U.S. Fed buys $19.5 bln mortgage bonds, sells $800 mln
NEW YORK Dec 6 (Reuters) - The Federal Reserve bought $19.5 billion in agency mortgage-backed securities from Nov. 29 to Dec. 5, more than the $16.9 billion it bought in the prior week, the New York Federal Reserve Bank said on Thursday.
The U.S. central bank sold $800 million of mortgage securities guaranteed by Fannie Mae, Freddie Mac or the Government National Mortgage Association (Ginnie Mae) in the latest week. It sold $2.0 billion the previous week, the New York Fed said on its website.
On Sept. 14, the Fed began a $40 billion monthly increase in MBS purchases, its third round of large-scale bond buying known as QE3, in an attempt to support the housing recovery and boost economic growth.
Since October 2011, the Fed has been using funds from principal payments on the agency debt and agency MBS it holds to reinvest in agency MBS, which was an earlier move to help the housing market.
- Missing jet may have strayed toward Andaman Sea: Malaysian air force |
- NYC buildings explosion kills two, more missing
- EU moves towards travel bans, asset freezes for Russians |
- Malaysia military source says missing jet veered to west |
- Exclusive: EU approves framework for asset freezes, travel bans on Russia