BANKING & FINANCE - Nov. 30, 1991
From Times Staff and Wire Reports
Cost of Funds Index Lowered: The Federal Home Loan Bank of San Francisco said the monthly weighted average cost of funds index for 11th District savings institutions for October is 6.566%, down from 6.714% in September. 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.
