Agency mortgage-backed securities declined after a two-day rally, extending quarterly losses that are on track to be the worst in nearly two decades, Businessweek reports.
Mortgage securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae have been among the hardest hit as bonds tumbled amid signals from Federal Reserve officials that the central bank is moving closer to slowing the pace of its monthly debt buying known as quantitative easing, or QE.