Morgage CODI Index - Certificate of Deposit Index Rates & History...
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Since this index is based on a 12 month average it is fairly steady, much more so than the CMT Index (which reacts very quickly to the market). Although the movement of the CODI closely tracks that of the COFI it actually tends to fluctuate a little more than that index. If rates are rising then the CODI is a reasonable index to use because of the 'lag effect' created by averaging these yields over a one year period.
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CODI Morgage Index
The 'Certificate of Deposit Index' is a 12 Month average of the monthly average yields on the nationally published 3 Month Certificate of Deposit rates. It is usually calculated by using the Federal Reserve's statistical release data to add the 12 most recent monthly yields and then dividing that number by 12 in order to get an average monthly yield.Since this index is based on a 12 month average it is fairly steady, much more so than the CMT Index (which reacts very quickly to the market). Although the movement of the CODI closely tracks that of the COFI it actually tends to fluctuate a little more than that index. If rates are rising then the CODI is a reasonable index to use because of the 'lag effect' created by averaging these yields over a one year period.