July 9, 2020 / 6:12 PM / a month ago

U.S. Fed buys $21.7 billion of mortgage bonds, sells $3.6 billion

FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis

NEW YORK, July 9 (Reuters) - The Federal Reserve bought $21.685 billion of agency mortgage-backed securities in the week

from Jul. 2 to Jul. 8, compared with $22.705 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 $3.6 billion in 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.

New York Treasury Desk +1-646-223-6300

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