BANKING & FINANCE - July 1, 1993
From Times Staff and Wire Reports
Key Mortgage 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 4.103% in May from 4.171% in April. The rate--which stood at 5.290% a year ago--measures the average cost of funds to the thrifts and other financial institutions in the bank’s 11th District, which covers California, Arizona and Nevada.
