Fannie Mae and Freddie Mac mortgage bonds pared losses relative to Treasuries with the market for government-backed home-loan debt heading for its worst month since 2008 at the height of the global financial crisis. Fannie Mae’s 30-year fixed-rate mortgage securities with 4.5 percent coupons rose 0.08 cent on the dollar in comparison with U.S. government notes as of 12:40 p.m. in New York, after a relative drop of 0.39 cent yesterday that was the largest this year, according to data compiled by Bloomberg.