BANKING & FINANCE - Feb. 1, 1994
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Key Mortgage Rate’s 3-Year Slide Ends: 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, edged up to 3.879% in December from 3.822% in November. It was the rate’s first monthly increase since September, 1990, when the rate rose to 8.091% from 8.075% the prior month, the bank said. The rate measures the average cost of funds to the thrifts and other financial institutions in the district, which covers California, Arizona and Nevada.
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