February 7, 2018 / 2:59 PM / 3 months ago

Fannie Mae sells $750 million bills at higher rates

(Reuters) - Fannie Mae FNMA.OB, the largest U.S. home funding source, said on Wednesday it sold $750 million of benchmark bills at higher interest rates compared with last week’s sale of similar maturities.

Fannie Mae said it sold $500 million of 1M bills due March 7, 2018 at a 1.273 percent stop-out rate, or lowest accepted rate, up from the 1.269 percent rate for $250 million of 1M bills sold on Jan. 31.

The company also sold $250 million of three-month bills due May 9, 2018 at a 1.490 percent rate, also up from the 1.423 percent rate for $250 million of three-month bills sold last week.

The 1M bills were priced at 99.901 with a money market yield of 1.274 percent. The three-month bills were priced at 99.623 with a money market yield of 1.496 percent.

Settlement is Feb. 7-8.

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