Posted To: MND NewsWire
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the five trading days between December 3 and December 9, the Federal Reserve purchased a total of $27.25 billion agency MBS. In those five days the Federal Reserve sold $11.25 billion agency MBS, most of which were Fannie 5.0 coupons (dollar rolls). The Fed's weekly net purchase total was $16.00 billion. This is the fourth consecutive week purchases have come in at $16.00 billion. The goal of the Federal Reserve's agency MBS program is to provide support to mortgage and housing markets and to foster improved conditions in financial markets more generally. Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae are eligible assets for the program…(read more)