Fannie Mae sells $1 bln bills at lower rates
NEW YORK Oct 6 (Reuters) - Fannie Mae (FNMA.OB), the largest U.S. home funding source, on Wednesday said it sold $1 billion of benchmark bills at lower interest rates compared with last week's sale of similar maturities.
Fannie Mae said it sold $500 million of three-month bills, due Jan. 5, 2011, at a 0.140 percent stop-out rate, or lowest accepted rate, down from a 0.164 percent rate for $500 million three-month bills sold Sept. 29.
The agency also sold $500 million of six-month bills due April 6, 2011, at a 0.190 percent stop-out rate, also down from a 0.204 percent rate for its $500 million six-month bills sold a week ago.
The three-month bills were priced at 99.965 with a money market yield of 0.140 percent, and the six-month bills were priced at 99.904 with a money market yield of 0.190 percent.
Settlement is Oc. 6-7. (Reporting by Pam Niimi; Editing by Theodore d'Afflisio)
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