Cost of Funds Index Falls in August
The cost of funds index for savings institutions in the Federal Home Loan Bank’s 11th District fell to 2.763% in August from 2.821% in July, lowering monthly payments on adjustable-rate mortgages in California, Arizona and Nevada.
The index sets payments through October. The index also is used as a base rate for West Coast mortgages and for bonds backed by those loans. A decrease lowers monthly mortgage payments for homeowners and reduces the interest income on bonds backed by mortgages pegged to the index.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
