Gross purchases of agency mortgage-backed securities hit $15.1 billion this week, down from $17.6 billion last week, according to the Federal Reserve Bank of New York.
Meanwhile, the central bank didn’t sell any agency MBS for the same week. Additionally, net purchases of agency MBS amounted to $15.1 billion for the same time period.
The Federal Reserve did something this week it hadn’t done in more than four years when it lowered the federal funds rate by half a percentage point. But for mortgage industry professionals hampered by fewer sales opportunities since the Fed’s streak of rate hikes began in March 2022, will this be the start of better days?
