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BANKING & FINANCE

From Times Staff and Wire Reports

Key Mortgage Rate Falls Again: The Federal Home Loan Bank of San Francisco said the 11th District cost of funds, the rate to which many adjustable-rate home mortgages are tied, fell to 4.050% in June from 4.103% in May. The rate--which stood above 5% a year ago--measures the average cost of funds to thrifts and other financial institutions in the bank’s 11th District, which covers California, Arizona and Nevada.


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