The New York Federal Reserve Bank purchased agency mortgage-backed securities worth $22.705 billion during the June 25 to July 1 period. This is compared to $22.859 billion purchase in the previous week.

The move is aimed at helping the housing market which started 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.

On its website, the Fed said it has not sold any mortgage securities guaranteed by Fannie Mae, Freddie Mac or the Government National Mortgage Association, or Ginnie Mae, in the latest week.

It did not sell any in the prior week as well.

Categories: Creativity, Economy & Finance, Entrepreneurship, Strategy