Fannie Mae sells $3 bln bills at lower rates

Wed Nov 21, 2012 10:56am EST

Nov 21 (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 Feb. 20, 2013 at a 0.125 percent stop-out rate, or lowest accepted rate, down from the 0.131 percent rate for last week's sale of $1.5 billion of three-month bills.

The company also sold $1.5 billion of six-month bills due May 22, 2013 at a 0.160 percent rate, also down from the 0.170 percent rate for $1.5 billion six-month bills sold Nov. 14.

The three-month bills were priced at 99.968 with a money market yield of 0.125 percent. The six-month bills were priced at 99.919 with a money market yield of 0.160 percent.

Settlement is Nov. 21-22.

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