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U.S. Fed buys $15.1 bln of mortgage bonds, sells none
May 2, 2013 / 6:36 PM / 4 years ago

U.S. Fed buys $15.1 bln of mortgage bonds, sells none

NEW YORK, May 2 (Reuters) - The U.S. Federal Reserve bought $15.1 billion of agency mortgage-backed securities from April 25 through May 1, matching the amount it purchased last week, the New York Federal Reserve Bank said on Thursday.

In a move to help the housing market, since 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 Thursday that the central bank sold no mortgage securities guaranteed by Fannie Mae, Freddie Mac or the Government National Mortgage Association, known as Ginnie Mae, in the latest week. It sold none the previous week.

Last Sept. 14, the Fed began a $40 billion monthly increase in MBS purchases, its third round of large-scale bond buying, in an attempt to support the housing recovery and boost economic growth.

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