Morgage COFI Index - 11th District Cost Of Funds Index Interest Rates...
"Keeping Your Best Interests At Heart"
Interest Rates Guaranteed Less Than All major Banks in the Nation One low amortization schedule quote that suits your needs No hassles or obligations - just great service!
Fees Explained I
Points Explained I
Common Terms I
Glossary I
Local Quote I
Beat The Banks Program
"To say that I appreciate you and your company's help would be a huge understatement..."
The largest part of the COFI is interest paid on savings accounts. The result of this is that it lags market interest rates in uptrend and downtrend movements. Due to this lag any morgage tied to this index will rise more slowly or fall more slowly than interest rates in general. This is a strength when rates are rising but a negative when rates are falling. Overall, it should be noted that the COFI is the most stable of all the indexes used for adjustable rate morgages and really smooths out the volatility of the market.
"To say that I appreciate you and your company's help would be a huge understatement..."
COFI Morgage Index
This is based on the weighted-average interest rate paid by the 11th district Federal Home Loan Bank District savings institutions for checking & savings accounts, advances from the Federal Home Loan Bank, & other sources of funds. The 11th District includes the savings institutions based in California, Nevada, & Arizona.The largest part of the COFI is interest paid on savings accounts. The result of this is that it lags market interest rates in uptrend and downtrend movements. Due to this lag any morgage tied to this index will rise more slowly or fall more slowly than interest rates in general. This is a strength when rates are rising but a negative when rates are falling. Overall, it should be noted that the COFI is the most stable of all the indexes used for adjustable rate morgages and really smooths out the volatility of the market.