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Article: Bank Board reports ARM index rates. (Federal Home Loan Bank Board, adjustable rate mortgages)
- Article from:
- PR Newswire
- Article date:
- April 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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BANK BOARD REPORTS ARM INDEX RATES
WASHINGTON, April 15 /PRNewswire/ -- The final average contract interest rate on conventional mortgage loans closed for purchasing previously occupied single-family homes by all major lenders during early March 1988 was 8.84 percent, the Federal Home Loan Bank Board reported today.
The final average covering early April will be announced on or about May 16.
The Bank Board also reported today that the most recent monthly median annualized cost of funds for institutions insured by the Federal Savings and Loan Insurance Corp. (FSLIC) was 7.11 percent in February. The ratio for March will be reported on or ...