BANKING & FINANCE - Feb. 1, 1992
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From Times Staff and Wire Reports
Cost of Funds Drops Again: The 11th District cost of funds index fell to 6.245% in December from 6.414% in November, reflecting the overall drop in interest rates. The index, which measures what savings and loans in California, Nevada and Arizona pay for mortgage money, is the index most widely used by California lenders in setting adjustable-rate mortgages. Lenders typically set rates at 2 to 2.5 percentage points above the index.
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