Fannie Mae sells $500 million bills at lower rates

April 3 Wed Apr 3, 2013 9:53am EDT

April 3 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $500 million of benchmark bills at lower interest rates compared with last week's sale of similar maturities.

Fannie Mae said it sold $250 million of three-month bills due July 3, 2013 at a 0.070 percent stop-out rate, or lowest accepted rate, down from the 0.085 percent rate for $250 million of three-month bills sold March 27.

The company also sold $250 million of six-month bills due Oct. 2, 2013 at a 0.116 percent rate, down from the 0.125 percent rate for $250 million of six-month bills sold a week ago.

The three-month bills were priced at 99.982 with a money market yield of 0.070 percent. The six-month bills were priced at 99.941 with a money market yield of 0.116 percent.

Settlement is April 3-4.