Fannie Mae sells $2 bln bills at lower rates
NEW YORK Aug 4 (Reuters) - Fannie Mae (FNMA.OB), the largest U.S. home funding source, on Wednesday said it sold $2 billion of benchmark bills at lower interest rates compared with last week's sale of similar maturities.
Fannie Mae said it sold $1 billion of three-month bills, due Nov. 3, 2010, at a 0.172 percent stop-out rate, or lowest accepted rate, slightly down from 0.173 percent for its $1 billion bills auctioned on July 28.
The agency also sold $1 billion of six-month bills due Feb. 2, 2011, at a 0.234 percent stop-out rate, also down from a 0.240 percent rate for its $1 billion six-month bills sold a week ago.
The three-month bills were priced at 99.957 with a money market yield of 0.172 percent, and the six-month bills were priced at 99.882 with a money market yield of 0.234 percent.
Settlement is Aug. 4-5. (Reporting by Caryn Trokie; Editing by Theodore d'Afflisio)