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U.S. Fed buys $1.8 billion of mortgage bonds, sells none

U.S. Fed buys .8 billion of mortgage bonds, sells noneU.S. Fed buys $1.8 billion of mortgage bonds, sells none

NEW YORK (Reuters) – The Federal Reserve bought $1.782 billion of agency mortgage-backed securities in the week from Aug. 9 to Aug. 15, compared with $1.735 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 (OB:), Freddie Mac (OB:) or the Government National Mortgage Association, or Ginnie Mae, in the latest week. It sold none the prior week. OLUSECON Reuters US Online Report Economy 20180816T180920+0000

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Source: Investing.com

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