Fed buys $29.9 billion of mortgage bonds, sells $9.4 billion
NEW YORK (Reuters) - The Federal Reserve bought $29.9 billion in agency mortgage-backed securities January 3-9, topping the $10.1 billion it bought in the prior week, the New York Federal Reserve Bank said on Thursday.
The U.S. central bank sold $9.4 billion of mortgage securities guaranteed by Fannie Mae (FNMA.OB), Freddie Mac (FMCC.OB) or the Government National Mortgage Association (Ginnie Mae) in the latest week. It sold $1.6 billion the previous week, the New York Fed said on its website.
On September 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.
(Reporting by Richard Leong; and Leslie Adler)
- Malaysia air probe finds scant evidence of attack: sources |
- Malaysia probes passenger backgrounds for clues on missing flight |
- Confrontation in Ukraine as diplomacy stalls |
- N.Korea using sophisticated means to avoid U.N. sanctions - U.N. report
- Exclusive: Chinese raw materials also found on U.S. B-1 bomber, F-16 jets