REAL ESTATE
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<i> Times Staff and Wire Reports</i>
Key Mortgage Rate Still Rising: The 11th District cost of funds--the rate to which many adjustable-rate home mortgages are tied--rose to 5.141% in May from 5.064% in April, the Federal Home Loan Bank of San Francisco reported. The rate has been climbing steadily in recent months and is now at its highest level since mid-1992. The rate measures the average cost of funds to the thrifts and other financial institutions in the bank’s 11th District, which covers California, Arizona and Nevada.
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