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NEW YORK FED BEGINS PURCHASING MORTGAGE-BACKED SECURITIES

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This entry was posted on 1/13/2009 11:15 AM and is filed under Real Estate.

The Federal Reserve Bank of New York on Monday 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 Web site beginning Jan. 8, and will be updated on a weekly basis each Thursday. This program, first announced in November, is intended to support the mortgage and housing markets and foster improved conditions in financial markets.

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From Wednesday, January 07, 2009 C.A.R. Newsline

Reprinted with permission of the CALIFORNIA ASSOCIATION OF REALTORS®

 

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