Freddie Mac bill sale: rates rise, demand stronger

NEW YORK, Dec 7 (Reuters) - (Reuters) - Freddie Mac (FRE.P) (FRE.N) on Monday said it sold $3.0 billion of bills at higher rates than at the most recent sales of the same maturities, while demand was stronger.

Freddie Mac said it sold $1.5 billion of three-month bills March 8, 2010, at a 0.072 percent rate, up from a 0.060 percent for its $1.5 billion of three-month bills auctioned last week.

It also sold $1.5 billion of six-month bills June 7, 2010, at a 0.185 percent rate, up from 0.150 percent for its $1.0 billion of six-month bills sold a week ago.

Demand for the three-month bills was stronger than last week, with a bid-to-cover ratio of 3.98 compared with 3.05 on Nov. 30, while demand was also stronger for the six-month bills at 3.42 versus 2.92 last week.

A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand.

Settlement for all bills is Dec. 8. (Reporting by Caryn Trokie; Editing by James Dalgleish)