Fannie Mae sells $1 billion in bills at lower rates

Sept 4 Wed Sep 4, 2013 9:56am EDT

Sept 4 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday 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 Dec. 4, 2013 at a 0.039 percent stop-out rate, or lowest accepted rate, down from the 0.045 percent rate for $1 billion of three-month bills sold Aug. 28.

The company also sold $500 million of six-month bills due March 5, 2014 at a 0.070 percent rate, down from the 0.082 percent rate for $1 billion of six-month bills sold a week ago.

The three-month bills were priced at 99.990 with a money market yield of 0.039 percent. The six-month bills were priced at 99.965 with a money market yield of 0.070 percent.

Settlement is Sept. 4-5.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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