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How the Fed’s Policy Shift Is Rippling Through the Housing Market

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The U.S. central bank had been the biggest buyer of mortgage bonds since the start of the pandemic, but now it is stepping back and the cost of buying a home is rising

The Federal Reserve’s decision to end its era of easy money is rippling through the mortgage market, driving up the cost of buying a home.

The central bank had been the biggest buyer of pools of home loans since the start of the pandemic. Now , winding down its purchases and laying the groundwork to shrink the $2.7 trillion stockpile it has built up. These mortgage-backed securities, hot investments for much of the pandemic, are now selling off.

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