Alan Tang's Blog » Fed http://agentalan.com Realty World - Advance Group Wed, 01 Dec 2010 18:55:23 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 New York Fed Begins Purchasing Mortgage-Backed Securities http://agentalan.com/2009/01/08/new-york-fed-begins-purchasing-mortgage-backed-securities/ http://agentalan.com/2009/01/08/new-york-fed-begins-purchasing-mortgage-backed-securities/#comments Tue, 30 Nov 1999 07:00:00 +0000 http://alantang.blogs.rwnetwork.com/2009/01/08/new-york-fed-begins-purchasing-mortgage-backed-securities/ This could potentially lead to lowering of mortgage interest rates!  Those looking to buy or refi should really take note and keep watch!!!

http://www.newyorkfed.org/newsevents/news/markets/2009/ma090105.html

January 5, 2009  
 

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.

Summary data detailing these operations will be available on the New York Fed’s website beginning Thursday, January 8, 2009, and will be updated on a weekly basis each Thursday.

This program, first announced on November 25, 2008, is intended to support the mortgage and housing markets and foster improved conditions in financial markets more generally.

Contact:
Public Affairs
(212) 720-6130
(646) 720-6130
general.info@ny.frb.org

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