The Federal Reserve’s gross purchases of mortgage-backed securities (MBS) from government-sponsored enterprises (GSEs) reached $18bn for the week ending Oct. 29, according to a report from Barclay’s Capital. The Fed uses its agency MBS-purchases program to provide credit to the securities market. The weekly purchases include $11.4bn from Fannie Mae (FNM), $5.2bn from Freddie Mac (FRE) and $1.3bn from Ginnie Mae. The Fed’s total net purchases rose to $977.1bn – on track for the $1.25trn in agency MBS the Fed plans to purchase, according to the Federal Open Market Committee’s report. The Fed intends to slow the purchasing program before its anticipated conclusion at the end of Q110. Of the $977.1bn, the Fed purchased $325.6bn from Freddie, $569.3bn from Fannie and $82.1bn from Ginnie. Write to Jon Prior.

Most Popular Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By

Latest Articles

Congressional vote on “de facto QM Patch” postponed

The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that’s set to expire in early 2021.

Nov 15, 2019 By