Choose Your City
Change City

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


NEW YORK (Reuters) - The Federal Reserve bought $8.034 billion of agency mortgage-backed securities in the week from Nov. 24 to Nov. 30, compared with $7.529 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 $100 million the prior week.