With weakening spreads taking hold for Fannie Mae and Freddie Mac, the Federal Reserve this week decided it will buy up as much as $100 billion in the direct debt of the two GSEs as well as that of the 12 Federal Home Loan Banks, and as much as $500 billion of mortgage-backed securities that are backed by Fannie, Freddie and Ginnie Mae.“Spreads of rates on GSE debt and on... [Includes one chart]