BANKING & FINANCE - April 1, 1994
From Times Staff and Wire Reports
Cost of Funds Rate Declines Again: The Federal Home Loan Bank of San Francisco said the 11th district cost of funds, the rate to which many adjustable-rate mortgages are tied, fell to 3.687% in February from 3.71% in January. With the exception of a slight increase last December, the rate has steadily declined over the past three years. The rate measures the average cost of funds to the financial institutions in California, Arizona and Nevada.
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