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Article: Bank board announces ARM index rates. (Federal Home Loan Bank Board, adjustable rate mortgages)
- Article from:
- PR Newswire
- Article date:
- December 14, 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 ANNOUNCES ARM INDEX RATES
WASHINGTON, Dec. 14 /PRNewswire/ -- The most recent monthly median annualized cost of funds for institutions insured by the Federal Savings and Loan Insurance Corp. (FSLIC) was 7.29 percent in October, the Federal Home Loan Bank Board reported on Dec. 13.
The ratio for November will be reported on or about Jan. 17, 1989.
The Bank Board also reported that the final average contract rate on conventional mortgage loans closed for purchasing previously occupied single-family homes by all major lenders during early November 1988 was 9.16 percent, up from 9.11 percent during early October. The final ...