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BREAKING NEWS

U.S. Fed buys $2 billion of mortgage bonds, sells none

U.S. Fed buys $2 billion of mortgage bonds, sells none
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NEWYORK, (Reuters) – The Federal Reserve bought $1.962 billion of agency mortgage-backed securities in the week from May. 17 to May. 23, compared with $2.334 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 $400 million the prior week.

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