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traderdaily.com - 12/31/2008
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The U.S. Federal Reserve on Tuesday moved forward aggressively with an effort to drive down mortgage costs, setting a goal of buying $500 billion in mortgage-backed securities by mid-2009.
The central bank said it would start buying the securities in early January under a program announced ...
newyorkfed.org - 1/5/2009
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newyorkfed.org —
The Federal Reserve Bank of New York today
began purchasing fixed-rate mortgage-backed securities guaranteed by Fannie Mae,...
Freddie Mac, and Ginnie Mae. Selected private investment managers are acting as agents of the New York Fed in these purchases.
(more)
New York Fed Begins Purchasing Mortgage-Backed Securities
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Fed Goes All In for Mortgage-Backed Securities
Emini Addict —
... expressed surprise with how vigorously the Fed was pledging to act and the news propped up prices for MBS in very thin trade. "When they are buying along the lines of $80 billion to $100 billion a month, if they're going to do it in six months, they have to buy everything they can get their hands on," said Kevin Cavin, a mortgage strategist at FTN Financial in Chicago. "It will push up prices and tighten spreads and push down primary mortgage rates," he said. Trader Daily � Fed Goes All In for Mortgage-Backed Securities ...
Related: fed buying mortgage backed securities
