BANKING & FINANCE - Dec. 1, 1993
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From Times Staff and Wire Reports
Key Rate Falls 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, slipped to 3.823% in October from 3.881% in September. It was the lowest level since the bank began tracking the rate in July, 1981, when it stood at 11.8%. The rate measures the average cost of funds to thrifts and other financial institutions in the 11th District, which covers California, Arizona and Nevada.
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