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BANKING & FINANCE

From Times Staff and Wire Reports

Key Adjustable Home Loan Index Falls 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 3.629% in March from 3.687% in February. Except for a slight increase last December, the rate has steadily declined over the past three years. The rate measures the average cost of funds to the thrifts and financial institutions in the bank’s 11th District, which covers California, Arizona and Nevada.


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