U.S. Fed buys $29 million of mortgage bonds, sells none By –


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© -. FILE PHOTO: The Federal Reserve constructing is pictured in Washington, DC

NEW YORK, May 30 (-) – The Federal Reserve purchased $29 million of company mortgage-backed securities within the week

from May. 23 to May. 29, in contrast with $67 million bought the earlier week, the New York Federal Reserve Bank stated on Thursday.

In a transfer to assist the housing market begun in October 2011, the U.S. central financial institution has been utilizing funds from principal funds

on the company debt and company mortgage-backed securities, or MBS, it holds to reinvest in company MBS.

The New York Fed stated on its web site the Fed bought no mortgage securities assured by Fannie Mae,

Freddie Mac or the Government National Mortgage Association, or Ginnie Mae,

within the newest week. It bought none the prior week.

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