BANKING & FINANCE - Dec. 1, 1994
From Times Staff and Wire Reports
Key Mortgage Rate Keeps Climbing: 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, rose to 4.187% in October from 4.039% in September. It was the seventh straight monthly increase in the rate, reflecting the general rise in interest rates during 1994. 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.
