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ARM Indexes: 11th District Cost of Funds, 1980s [blockLink]0[/blockLink]
Source: Federal Home Loan Bank of San Francisco

Alias Monthly Weighted Average Cost of Funds Index for Eleventh District Savings Institutions

19801981198219831984
January 8.758 10.451 11.950 10.462 10.032
February 9.647 11.156 12.341 10.423 10.172
March 8.857 10.951 12.140 9.873 9.982
April 9.822 11.144 12.168 9.807 10.135
May 10.405 11.428 12.167 9.626 10.260
June 10.077 12.139 12.673 9.824 10.434
July 9.667 11.848 12.234 9.676 10.712
August 9.392 12.029 11.957 9.969 10.857
September 9.292 12.325 11.766 9.996 11.039
October 9.113 12.293 11.286 9.997 10.994
November 9.518 12.469 11.042 10.030 10.891
December 9.632 12.182 11.093 10.192 10.520

19851986198719881989
January 10.217 8.770 7.396 7.615 8.125
February 10.160 8.964 7.448 7.647 8.346
March 9.976 8.744 7.314 7.509 8.423
April 9.872 8.587 7.245 7.519 8.648
May 9.704 8.441 7.223 7.497 8.797
June 9.565 8.374 7.274 7.618 8.923
July 9.365 8.196 7.275 7.593 8.844
August 9.273 8.018 7.277 7.659 8.763
September 9.129 7.901 7.394 7.847 8.807
October 9.027 7.717 7.444 7.828 8.643
November 9.036 7.602 7.562 7.914 8.595
December 8.867 7.509 7.645 8.022 8.476

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