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Volume 2014 - Number 24

June 20, 2014

Fed Continues ‘Taper’ But Unlikely to Sell MBS, Yellen Concedes Banks Reluctant to Lend to Some

This week, the Federal Reserve, as expected, maintained the current pace of its reduction of support of the housing and mortgage markets, reducing its net purchases of agency MBS to $15 billion per month (down from $20 billion), beginning in July. The Fed Open Market Committee also maintained its forward guidance regarding the federal funds rate target of between zero and 0.25 percent and reaffirmed its view that a highly accommodative stance of monetary policy remains appropriate. “Even after today’s action takes effect, we will continue...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.



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