BANKING & FINANCE - Nov. 3, 1992
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From Times Staff and Wire Reports
Cost of Funds Drops: The 11th District cost of funds index fell to 4.805% in September from 4.874% in August, the Federal Home Loan Bank of San Francisco reported. The index is significant because it is one of the key measurements lenders use in setting adjustable-rate mortgages in the state. ARMs typically are set from 2% to 2.5% above the index, which measures the cost of mortgage money for thrifts in California, Arizona and Nevada.
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