U.S. Fed buys $24.8 billion of mortgage bonds, sells none

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September 3, 2020 2:19 PM EDT

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

NEW YORK, Sept 3 (Reuters) - The Federal Reserve bought $24.768 billion of agency mortgage-backed securities in the week from Aug. 27 to Sep. 2, compared with $26.975 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 (OTC: FNMA),

Freddie Mac (OTC: FMCC) 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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