Fannie Mae sells $500 million bills at higher rates

Dec 27 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $500 million of benchmark bills at higher interest rates compared with last week's sale of similar maturities.

Fannie Mae said it sold $250 million of 1M bills due Jan. 24, 2018 at a 1.248 percent stop-out rate, or lowest accepted rate, up from the 1.240 percent rate for $250 million of 1M bills sold on Dec. 20.

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The company also sold $250 million of three-month bills due March 28, 2018 at a 1.350 percent rate, also up from the 1.330 percent rate for $250 million of three-month bills sold last week.

The 1M bills were priced at 99.903 with a money market yield of 1.249 percent. The three-month bills were priced at 99.659 with a money market yield of 1.355 percent.

Settlement is Dec. 27-28.