July 25, 2018 / 1:49 PM / 23 days ago

Fannie Mae sells $1 billion bills at mixed rates

(Reuters) - Fannie Mae , the largest U.S. home funding source, said on Wednesday it sold $1 billion of benchmark bills at mixed interest rates compared with last week’s sale of similar maturities.

Fannie Mae said it sold $500 million of 1M bills due Aug. 22, 2018 at a 1.880 percent stop-out rate, or lowest accepted rate, up from the 1.879 percent rate for $500 million of 1M bills sold on July 18.

The company also sold $500 million of three-month bills due Oct. 24, 2018 at a 1.975 percent rate, down from the 1.984 percent rate for $500 million of three-month bills sold last week.

The 1M bills were priced at 99.854 with a money market yield of 1.883 percent. The three-month bills were priced at 99.501 with a money market yield of 1.985 percent.

Settlement is July 25-26.

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