Yields on Fannie Mae and Freddie Mac mortgage securities declined for a fifth day Wednesday, tracking a drop in rates on benchmark Treasuries and suggesting further declines in borrowing costs for new home loans.

The yield on Fannie's current-coupon 30-year fixed-rate mortgage bonds fell 6 basis points from Tuesday's close, to 4.52% as of 10:55 a.m. Eastern Daylight Time, the lowest since May 29.

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