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Cost of Funds Index Slips

November 29, 2003|From a Times staff writer

The cost of funds index for savings institutions in the Federal Home Loan Bank's 11th District edged lower to 1.909% in October from 1.923% in September.

The index is a popular benchmark for adjustable-rate mortgages on the West Coast and tends to lag behind changes in market interest rates by several months.

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