District Cost of Funds Declines to 4.745%
A Times Staff Writer
The 11th District cost of funds--the rate to which many adjustable-rate mortgages are tied--declined to 4.745% in May from 4.946% in April, the Federal Home Loan Bank in San Francisco said.
The rate, which tends to lag changes in market interest rates by several months, measures the average cost of funds for the savings institutions in the federal bank system’s 11th district, which includes California, Arizona and Nevada.
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