BANKING & FINANCE - Sept. 1, 1994
From Times Staff and Wire Reports
Key Mortgage Rate Climbs 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, rose to 3.860% in July from 3.804% in June. It was the fourth straight monthly increase in the rate after it steadily declined 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.
