Gross purchases of mortgage-backed securities dropped this past week, sliding down to $15.4 billion, according to the Federal Reserve Bank of New York.
Meanwhile, the central bank didn't sell any agency MBS this week.
Additionally, the net purchases of agency MBS amounted to $15.4 billion for the same time period, a decrease from last week.
An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]
