BANKING & FINANCE - March 1, 1994
From Times Staff and Wire Reports
Key Mortgage Rate Resumes Slide: 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 3.710% in January from 3.879% in December. The rate had edged higher in December for the first time in three years before resuming its decline. The rate 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.
