OTHER NEWS - Aug. 1, 1991
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From Times Staff and Wire Reports
Cost of Funds Drops Again: The 11th Federal Reserve District cost of funds index, which determines the rates of most adjustable-rate home loans in California, continued falling in June, to 7.155% from 7.329% a year earlier. Interest rates on adjustable-rate mortgages usually run from 2% to 2.5% above the index. The rate measures what savings institutions in California, Arizona and Nevada pay for money.
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