WASHINGTON -- The average cost of funds for federally insured thrifts fell in the second quarter to 7.12%, its lowest level since the 7.06% of the first quarter in 1987, the Office of Thrift Supervision said.

The figure was 7.44% in the first quarter this year.

The cost of funds index for the first half of 1991 was 7.28%, also its lowest level since the 1987 first half, when it was 7.09%.

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