May 13 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $3.5 billion of reference bills at lower rates and mixed demand compared with the most recent sales of similar maturities and comparable amounts.
Freddie Mac said it sold $500 million of one-month bills, due June 10, 2013, at a 0.024 percent rate, down from the 0.029 percent rate for $500 million of one-month bills sold on April 29.
Freddie Mac sold $1.5 billion of three-month bills, due Aug. 12, 2013, at a 0.068 percent rate, down from the 0.070 percent rate for its sale of $1.5 billion three-month bills auctioned last week.
The company also sold $1.5 billion of six-month bills, due Nov. 12, 2013, at a 0.098 percent rate, also down from the 0.100 percent rate for its sale of $1.5 billion six-month bills on May 6.
Demand for the one-month bills was higher, with a bid-to-cover ratio of 6.75, up from the 6.45 ratio for the one-month bills sold April 29.
Demand for the three-month bills was lower, with a bid-to-cover ratio of 4.93, down from the 5.45 ratio for the three-month bills sold May 6.
Demand for the six-month bills was lower, at 5.03 compared with 5.50 for the six-month bills auctioned last week.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand, while a lower ratio indicates weaker demand.
Settlement is May 14.