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Fed Has $345 Billion Left to Spend on Agency MBS
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the five trading days between September 24 and September 30, the Federal Reserve purchased a total of $29.10 billion agency MBS. In those five days the Federal Reserve sold (dollar rolls) a total of $9.10 billion agency MBS, bringing the weekly net total to $20.00 billion.rnrnThe goal of the Federal Reserve's agency MBS program is to provide support to mortgage and housing markets and to foster improved conditions in financial markets more generally. Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and
Mortgage Rates Average 4.94% in Week Ending October 1
Mortgage interest rates are flirting with record low territory again according to the results of Freddie Mac's Primary Mortgage Market Survey. The survey results released on Thursday set 2009 lows for several types of mortgages.rnrnrn
Mid-Day Recap: Weak Data, Bernanke Testimony Spur Nosedive in Stocks
Stocks are once again tumbling as talk of increased regulation is underway on Capital Hill. Fresh data on the nation’s manufacturing sector didn’t help either as it came in below market forecasts.rnEarly this morning Ben Bernanke, chairman of the Federal Reserve, told a congressional panel that an oversight council created by various regulatory should be established. rnrn
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