updated 5/10/2010 3:17:07 PM ET 2010-05-10T19:17:07

Interest rates on short-term Treasury bills fell in Monday's auction with rates on six-month bills dropping to the lowest level in three weeks.

The Treasury Department auctioned $26 billion in three-month bills at a discount rate of 0.155 percent, down from 0.165 percent last week. Another $26 billion in six-month bills was auctioned at a discount rate of 0.230 percent, down from 0.245 percent last week.

The three-month rate was the lowest since three-month bills averaged 0.150 percent on April 26. The six-month rate was the lowest since these bills averaged 0.220 percent three weeks ago on April 19.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,996.08 while a six-month bill sold for $9,988.31. That would equal an annualized rate of 0.157 percent for the three-month bills and 0.233 percent for the six-month bills.

Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, fell to 0.39 percent last week from 0.43 percent the previous week.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com