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U.S. Fed buys $7 billion of mortgage bonds, sells none

Reuters logo Reuters 10/5/2017
Federal Reserve Board Chairwoman Janet Yellen speaks during a news conference after the Fed releases its monetary policy decisions in Washington© REUTERS/Joshua Roberts Federal Reserve Board Chairwoman Janet Yellen speaks during a news conference after the Fed releases its monetary policy decisions in Washington

The Federal Reserve bought $7.029 billion of agency mortgage-backed securities in the week from Sep. 28 to Oct. 4, compared with $6.937 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 none the prior week.

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