The New York Federal Reserve Bank detailed purchases of $29.1bn of mortgage-backed securities (MBS) issued by Freddie Mac (FRE), Fannie Mae (FNM) and Ginnie Mae. The Fed’s weekly net purchases brought total net purchases to $904.9bn, according to a securitization research bulletin this week by Barclays Capital (BarCap). Of those net purchases, Fannie represents the largest share (59%), while Freddie represents 33% and Ginnie represents 8%. Net of $9.1bn sales the same week ending September 30, the Fed’s $20bn of purchases showed a steady decline from $23bn in the week ending September 23 and $25.5bn in the week ending September 16. The weekly slow-down confirms the Federal Open Market Committee’s (FOMC) report that the Fed is on track to buy $1.25trn in agency MBS, and intends to wind down the purchasing program before its anticipated conclusion at the end of Q110. Write to Diana Golobay.
NY Fed Slows Weekly MBS Purchases
Most Popular Articles
Latest Articles
NEXA Mortgage co-founders are splitting
Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage, are in negotiations to end their partnership.
-
Better narrows loss in 2023, aims to reach profitability soon
-
Pending home sales pick up in February: NAR
-
11 real estate events & conferences to help you thrive in 2024
-
In quest to grow reverse business, US Mortgage Corporation hires Krajewski
-
NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions