BANKING & FINANCE - July 2, 1994
From Times Staff and Wire Reports
Cost of Funds Index Rises 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, climbed to 3.726% in May from 3.672% in April. It was the second straight monthly increase in the rate after a steady decline during the previous 3 1/2 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.
