Fannie Mae's credit default swaps widen 16 pct

NEW YORK, May 6 (Reuters) - The cost of protecting Fannie Mae's(FNM.N: Quote, Profile, Research, Stock Buzz) debt with credit default swaps rose about 16 percent on Tuesday after the provider of U.S. home financing posted its third straight quarterly loss.

Five-year credit default swaps on Fannie Mae rose to about 50 basis points, or $50,000 a year to protect $10 million of debt, up from about 43 basis points on Monday, according to data from Markit Intraday. For details click on [ID:nL06921648]. (Reporting by Dena Aubin; Editing by Theodore d'Afflisio)