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ARM Indexes: 11th District Cost of Funds, 2000s

(explanation)
Source: Federal Home Loan Bank of San Francisco
Alias Monthly Weighted Average Cost of Funds Index for Eleventh District Savings Institutions

 20002001200220032004
January 4.901 5.514 2.823 2.308 1.811
February 4.967 5.426 2.744 2.257 1.841
March 5.002 5.198 2.653 2.210 1.815
April 5.078 4.946 2.723 2.208 1.802
May 5.196 4.745 2.772 2.130 1.708
June 5.357 4.498 2.847 2.113 1.758
July 5.456 4.274 2.821 2.018 1.816
August 5.509 4.106 2.763 1.946 1.875
September 5.548 3.974 2.759 1.923 1.931
October 5.589 3.628 2.708 1.909 1.960
November 5.607 3.368 2.537 1.821 2.025
December 5.617 3.074 2.375 1.902 2.118

 20052006200720082009
January 2.183 3.347 4.392 3.970 2.455
February 2.317 3.604 4.376 3.560 2.003
March 2.400 3.624 4.299 3.280 1.627
April 2.515 3.759 4.224 3.111 1.380
May 2.622 3.884 4.293 2.918 1.832
June 2.676 4.090 4.283 2.829 1.599
July 2.757 4.177 4.277 2.698 1.473
August 2.870 4.277 4.359 2.693 1.412
September 2.972 4.382 4.383 2.769 1.272
October 3.074 4.346 4.233 3.125 1.259
November 3.190 4.358 4.172 3.155 2.094
December 3.296 4.396 4.072 2.757 1.828

For other decades, click here.

The 11th District Cost of Funds index is used primarily for ARMs with monthly interest rate adjustments. (To verify or compute your ARM's rate, use our ARM Check Kit.) The 11th District represents the savings institutions (savings & loan associations and savings banks) headquartered in Arizona, California and Nevada. The cost of funds reflects the interest paid by institutions for savings accounts, FHLB advances, money borrowed from commercial banks, and other sources.

This index was first calculated for the month of July 1981; the values available for earlier years were extrapolated by the FHLB.

Since the largest part of a cost of funds index is interest paid on savings accounts, this index lags market interest rates. As a result, ARMs tied to this index rise (and fall) more slowly than rates in general. However, such ARMs often have payment caps, but no month-to-month interest rate caps.

Please note that the 11th District COF index is a lagging index. The index value for a particular month is not reported until the end of the next month. Thus, the 11th COF index for the month of March is reported on the last business day of April; the October value is reported on the last business day of November; etc. (The index value is released after 3 PM Pacific time, or after 6 PM Eastern time.) 

The latest value of this index is posted in the Current Indexes table.

This file not up to date? HSH's Index Update Service delivers over 55 major indexes emailed to you, including Treasuries, RNYs, daily & monthly LIBOR, COFs, and many more. Click here!
Go to the full list of ARM Index Histories.

HSH Associates makes every reasonable effort to supply complete, accurate information, but assumes no liability for errors.
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