The Federal Home Loan Bank of San...

The Federal Home Loan Bank of San Francisco announced that the monthly weighted average cost of funds index for 11th District savings institutions for July is 7.593%, down from 7.618% in June. Changes in interest rates on adjustable-rate mortgage loans offered by many savings institutions and commercial banks are tied to changes in the index. The cost of funds index reflects the interest rates paid by savings institutions in Arizona, California and Nevada on their various sources of mortgage money.