Fannie Mae sells $3 billion of bills at lower interest rates

Aug 22 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $3 billion of benchmark bills at lower interest rates compared with last week's sale of similar maturities.

Fannie Mae said it sold $1.5 billion of three-month bills due Nov. 21, 2012 at a 0.121 percent stop-out rate, or lowest accepted rate, down from the 0.134 percent rate for last week's sale of $2 billion of three-month bills.

The company sold $1.5 billion of six-month bills due Feb. 20, 2013 at a 0.160 percent rate, down from the 0.165 percent rate for its $2 billion of six-month bills sold Aug 15.

The three-month bills were priced at 99.969 with a money market yield of 0.121 percent. The six-month bills were priced at 99.919 with a money market yield of 0.160 percent.

Settlement is Aug. 22-23.