April 5, 2012 / 6:17 PM / 6 years ago

U.S. Fed buys $7 bln in mortgage bonds, sells none

NEW YORK, April 5 (Reuters) - The U.S. Federal Reserve bought $7 billion in agency mortgage-backed securities from March 29 to April 4, matching the amount it bought in the prior week, the New York Federal Reserve said on Thursday.

The central bank sold no mortgage securities guaranteed by Fannie Mae, Freddie Mac or the Government National Mortgage Association (Ginnie Mae) for a second straight week, the New York Fed said on its website.

From the start of October, the Fed began to use the funds from principal payments on the agency debt and agency MBS it holds to reinvest in agency MBS in an effort to hold down mortgage interest rates and support the U.S. housing market. (Reporting by Richard Leong; Editing by Padraic Cassidy)

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