Yesterday, the Federal Home Loan Bank of San Francisco announced its 11th District Cost of Funds Index surged 33% in May to 1.832% from its record April 2009 low of 1.38%. The data was made available on June 30, 2009.
According to the Federal Home Loan Bank of San Francisco:
According to the Federal Home Loan Bank of San Francisco:
The 11th District Monthly Weighted Average Cost of Funds Index (COFI: 11th Districty Cost of Funds Index History ) is one of many indices used by mortgage lenders to adjust the interest rate on adjustable rate mortgages. The COFI is computed from the actual interest expenses reported for a given month by the Arizona, California, and Nevada savings institution members of the Federal Home Loan Bank of San Francisco that satisfy the Bank's criteria for inclusion in the COFI.
| Index Month | Index Value |
|---|---|
| May 2009 | 1.832 |
| April 2009 | 1.380 |
| March 2009 | 1.627 |
| February 2009 | 2.003 |
| January 2009 | 2.455 |
| December 2008 | 2.757 |
| November 2008 | 3.155 |
| October 2008 | 3.125 |
| September 2008 | 2.769 |
| August 2008 | 2.693 |
| July 2008 | 2.698 |
| June 2008 | 2.829 |
| May 2008 | 2.918 |
| More Data | Here |
The Federal Home Loan Bank of San Francisco first published the 11th District Monthly Weighted Average Cost of Funds Index on August 28, 1981, for the month of July 1981.
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