Fannie Mae sells $7 bln new 3-yr benchmark notes

NEW YORK Aug 4 (Reuters) - Fannie Mae (FNMA.OB), the largest U.S. hone funding source, on Wednesday said it sold $7.0 billion of new three-year benchmark notes due Sept. 23, 2013.

The 1.00 percent notes were priced at 99.825 to yield 1.057 percent, or 23.5 basis points over comparable U.S. Treasuries.

On Tuesday, Fannie Mae sold $1.0 billion of five-year benchmark notes in a reopening of an existing 2.375 percent five-year issue via an Internet-based auction.

Fannie Mae said it hired Bank of America Merrill Lynch, JP Morgan and UBS Securities to lead manage the sale of the three-year notes. (Reporting by Caryn Trokie; Editing by Theodore d'Afflisio)