BANKING & FINANCE - June 1, 1995
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<i> Times Staff and Wire Reports</i>
Key Mortgage Rate Hits 21-Month High: The Federal Home Loan Bank of San Francisco said the 11th District cost of funds rate--the rate to which many adjustable-rate home mortgages are tied--rose to 5.064% in April from 5.007% in March. It was the rate’s highest level since it stood at 5.069% in July, 1992. The rate measures the average cost of funds to the thrifts and financial institutions in the bank’s 11th District, which covers California, Arizona and Nevada.
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