The Federal Reserve’s efforts to stimulate the US economy by buying billions of dollars of long-term bonds appears to be working, helping to boost home sales, construction, and consumer spending and confidence, said Eric S. Rosengren, president of the Federal Reserve Bank of Boston.

Rosengren, speaking at Babson College in Wellesley Thursday, said the Fed’s actions are producing the expected result: lowering rates on long-term loans such as mortgages, which in turn can encourage consumers and businesses to borrow and spend.