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When homeowners take out a new mortgage or refinance an old one,there’s a good chance it ends up packaged up with other loans and sold to investors as bonds with U.S. government guarantees.
That’s the type of mortgage bonds the Federal Reserve bought up in bulk during the pandemic. It’s also the sort President Donald Trump on Thursday ordered his “representatives” to buy as part of a new $200 billion plan to coax mortgage rates lower.
