March 20, 2013 / 1:57 PM / 5 years ago

Fannie Mae sells $1 billion bills at lower rates

March 20 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $1 billion of benchmark bills at lower interest rates compared with last week’s sale of similar maturities.

Fannie Mae said it sold $500 million of three-month bills due June 19, 2013 at a 0.098 percent stop-out rate, or lowest accepted rate, down from the 0.113 percent rate for last week’s sale of $1 billion of three-month bills.

The company also sold $500 million of six-month bills due Sept. 18, 2013 at a 0.125 percent rate, down from the rate 0.137 percent rates for the $1 billion of six-month bills sold on March 13.

The three-month bills were priced at 99.975 with a money market yield of 0.098 percent. The six-month bills were priced at 99.937 with a money market yield of 0.125 percent.

Settlement is March 20-21.

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