July 17, 2013 / 1:57 PM / 4 years ago

Fannie Mae sells $2 billion bills at lower rates

July 17 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $2 billion of benchmark bills at lower interest rates compared with last week's sale of similar maturities.

Fannie Mae said it sold $1 billion of three-month bills due Oct. 16, 2013 at a 0.050 percent stop-out rate, or lowest accepted rate, down from the 0.066 percent rate for $1 billion of three-month bills sold July 10.

The company also sold $1 billion of six-month bills due Jan. 15, 2014 at a 0.095 percent rate, down from the 0.113 percent rate for $1 billion of six-month bills sold last week.

The three-month bills were priced at 99.987 with a money market yield of 0.050 percent. The six-month bills were priced at 99.952 with a money market yield of 0.095 percent.

Settlement is July 17-18.

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