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BANKING & FINANCE

Times Staff and Wire Reports

Key Lending Rate Rises: The 11th District cost of funds--the rate to which many adjustable-rate home mortgages are tied--rose to 4.819% in July from 4.809% in June, the Federal Home Loan Bank of San Francisco reported. It was the rate’s first monthly rise in seven months. The rate, which tends to lag current market interest rates by several months, 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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