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BANKING & FINANCE

<i> Times Staff and Wire Reports</i>

Key Mortgage Rate Again Declines: The 11th District cost of funds--the rate to which many adjustable-rate home mortgages are tied--fell in August for the second straight month, to 5.133% from 5.144% in July, the Federal Home Loan Bank of San Francisco reported. The rate, which tends to lag current market interest rates by several months, had risen for 15 consecutive months before turning back down in July. 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.


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