Posted on 11/30/2017 11:28:33 AM PST by Oldeconomybuyer
NEW YORK - The Federal Reserve bought $3.447 billion of agency mortgage-backed securities in the week from Nov. 23 to Nov. 29, compared with $5.516 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
In a move to help the housing market begun in October 2011, the U.S. central bank has been using funds from principal payments on the agency debt and agency mortgage-backed securities, or MBS, it holds to reinvest in agency MBS.
(Excerpt) Read more at reuters.com ...
We survived.
Nicer to have rates in the 3.5% range though, isn't it?
“My first house mortgage rate was 14%.”
But, the money I had in a Scudder Funds money market was paying WELL! Almost like having a part time job without going to work.
“Nicer to have rates in the 3.5% range though, isn’t it?”
Oh, yes sir, absolutely. We’re at 3.75% on a 15 year fixed. We could pay it off, but making more in investments right now.
At gunpoint.
Make that 3.375%
They have been doing this for several years.
Looks like they’re still trying to invert the yield curve and usher in a recession. Watch the 10 yr to 1 yr CMT spread!
Yet another small advantage of being a veteran; the VA loan.
Yes, it WAS during the Reich of Kaiser Carter, the Imperial Peanut Emperor!
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