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Cost Of Funds Index

BUSINESS
March 30, 2002 | A Times Staff Writer
The cost of funds index for savings institutions in the Federal Home Loan Bank's 11th District fell to 2.744% in February from 2.83% in January, lowering monthly payments on adjustable-rate mortgages in California, Arizona and Nevada. The index, called COFI, sets payments on adjustable-rate mortgages through April. The index also is used as a base rate for West Coast mortgages and for bonds backed by those loans.
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BUSINESS
November 30, 2002 | From a Times Staff Writer
The cost of funds index for savings institutions in the Federal Home Loan Bank's 11th District fell to 2.708% in October from 2.759% in September, lowering monthly payments on adjustable-rate mortgages in California, Arizona and Nevada. The index sets payments through December. It also is used as a base rate for West Coast mortgages and for bonds backed by those loans.
BUSINESS
May 1, 2002 | A Times Staff Writer
The cost of funds index for savings institutions in the Federal Home Loan Bank's 11th District fell to 2.653% in March from 2.744% in February, lowering monthly payments on adjustable-rate mortgages in California, Arizona and Nevada. The index sets payments on adjustable-rate mortgages through May. The index also is used as a base rate for West Coast mortgages and for bonds backed by those loans.
BUSINESS
April 2, 1987
The Federal Home Loan Bank of San Francisco announced that the index rose in February to 7.448% from 7.396% the month before. Changes in interest rates on adjustable-rate mortgage loans offered by many savings institutions and commercial banks are tied to changes in the index. The cost of funds index reflects the interest rates paid by savings institutions in Arizona, California and Nevada on their various sources of mortgage money.
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