October 13, 2016 / 6:16 PM / 10 months ago

Fed buys $8 billion of mortgage bonds, sells none

A police officer keeps watch in front of the U.S. Federal Reserve in Washington October 12, 2016.Kevin Lamarque

NEW YORK (Reuters) - The Federal Reserve bought $7.957 billion of agency mortgage-backed securities in the week

from Oct. 6 to Oct. 12, compared with $10.901 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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