The Reserve Bank of Australia bought $780 million in residential mortgage-backed securities earlier this week. It was the same day all the financial shares rallied. What does it mean? Well, it means that the RBA is trying to loosen up the Aussie mortgage market by buying residential mortgage-backed securities and owning them for much longer periods than it was previously willing to do.
April 23rd, 2008 | The Daily Reckoning | 4 comments | ContinuedAll Posts Tagged With: "mortgage debt"
