11th District Cost of Funds Edges Higher
Times staff writer
The 11th District cost of funds--the rate to which many adjustable home mortgages are tied--edged higher to 4.96% in December from 4.95% in November, the Federal Home Loan Bank of San Francisco reported. However, the rate, which tends to lag changes in market interest rates by several months, remained slightly above its level of a year earlier, when it stood at 4.84%. The rate measures the average cost of funds for thrifts and other financial institutions in the bank’s 11th District, which covers California, Arizona and Nevada.
