Freddie Mac sells bills; lower rates, mixed demand

NEW YORK, Sept 8 (Reuters) - Freddie Mac FRE.P FRE.N said on Tuesday it sold $3 billion of bills at lower rates compared with the most recent sales of the same maturities, while demand was mixed.

Freddie Mac said it sold $2 billion of three-month bills due Dec. 7, 2009 at 0.149 percent, down from 0.160 percent for its $1 billion offering of three-month bills on Aug. 31.

In addition, Freddie Mac sold $1 billion of six-month bills due March 8, 2010 at a 0.237 percent rate, down from 0.252 percent for $1 billion of six-month bills auctioned last week.

Demand for the three-month bills was weaker than last week, with a bid-to-cover ratio of 2.96 compared with 3.47 on Aug. 31, while demand was stronger for the six-month bills at 3.23 against 3.15.

A bid-to-cover ratio reflects the amounts of bids compared with the amount offered. A higher ratio indicates stronger demand, while a lower ratio reflects weaker demand.

Settlement for all bills is Sept. 9. (Reporting by Caryn Trokie; Editing by James Dalgleish)