Freddie Mac skipping November note issuance

NEW YORK, Nov 3 (Reuters) - Freddie Mac (FRE.N) (FRE.P) notified the credit markets a day early that it plans to skip its November note issuance window, the first time it has refrained from tapping the longer-term funding markets in any month since December 2006.

The company's funding costs have jumped during the global financial turmoil, with risk premiums hovering near all-time highs as many investors question the degree of government support for debt issued by Freddie Mac and Fannie Mae.

Freddie Mac officials were not immediately available to comment.

Prior to the announcement, which was scheduled for Tuesday based on the company's 2008 financing calendar, Stone & McCarthy Research Associates said it would not be surprising if Freddie Mac refrained from tapping the note sector. Freddie Mac does not have any reference notes maturing this month that need to be refunded, according to Stone & McCarthy.

Earlier on Monday, Freddie Mac also said it would skip its November window for selling reference real estate mortgage investment conduit, or REMIC, securities. The last time the company sold these securities was in a $500 million offering in June, and prior to that in February.

Last month, Fannie Mae also refrained from selling its benchmark notes in October, the first time it passed on a monthly issuance of those securities since December 2007. (Reporting by Lynn Adler; Editing by Dan Grebler)