The US Federal Reserve bought $20.29 billion net of agency mortgage-backed securities in the latest week, less than the $23.02 billion it bought a week ago, the New York Fed said on its website on Thursday. This brought the US central bank's purchase of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and the Federal Home Loan Bank system to more than $550 billion since January.
The Fed said it bought $23.08 billion gross of agency MBS from June 11 through June 17, down from $54.68 billion in the prior period. At the same time, it sold $2.79 billion in mortgage securities, lower than the $31.67 billion in the prior period. The Fed aims to buy up to $1.25 trillion of agency MBS in a bid to bring down mortgage rates and to stimulate the battered housing sector and the overall economy.
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