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Economy

Demeter

(85,373 posts)

11. Fed's Mortgage Role Expands

Reply to Tansy_Gold (Original post)

Mon Dec 23, 2013, 10:10 PM

Dec 2013

THIS IS HOW YOUR FRIENDLY FED LAUNDERS FILTHY FORECLOSURES...

http://online.wsj.com/news/articles/SB10001424052702304773104579268540755093058

The Federal Reserve's role in the mortgage market has expanded over the past three months and could remain large for now, even as the central bank attempts to shrink its bond-buying program.

The Fed has been buying at least $40 billion in mortgage-backed securities each month, and often much more, along with $45 billion in Treasury bonds. The Fed said on Wednesday that it would reduce its monthly purchases of each type of debt by $5 billion beginning next month.

A sharp rise in interest rates this summer ended the latest home-refinancing boom, crimping mortgage-bond issuance. But the Fed won't reduce its share of mortgage-bond purchases until January. Because bond production has tumbled, the Fed's share of total mortgage-bond purchases has risen significantly over the past three months...

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