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Article: ARM index rates. (adjustable-rate mortgages)
- Article from:
- PR Newswire
- Article date:
- January 15, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARM INDEX RATES
WASHINGTON, Jan. 15 /PRNewswire/ -- The Federal Home Loan Bank Board reported today that the final averge contract interest rate on conventional mortgage loans closed for purchasing previously occupied single-family homes by all major lenders during early December 1987 was 8.86 percent.
The final average covering early January 1988 will be announced on or about Feb. 12, 1988.
The Bank Board also reported today that the most recent monthly median annualized cost of funds for FSLIC-insured institutions was 7.04 percent. This ratio is for the month of November. A ratio for the month of December also will be announced on or ...