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ARM Indexes: 11th District Cost of Funds, 1990s

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

19901991199219931994
January 8.369 7.858 6.002 4.360 3.710
February 8.403 7.848 5.800 4.333 3.687
March 8.258 7.654 5.611 4.245 3.629
April 8.211 7.501 5.427 4.171 3.672
May 8.171 7.329 5.290 4.103 3.726
June 8.086 7.155 5.258 4.050 3.804
July 8.109 6.998 5.069 3.998 3.860
August 8.075 6.845 4.874 3.958 3.945
September 8.091 6.714 4.805 3.881 4.039
October 8.050 6.566 4.597 3.823 4.187
November 8.044 6.414 4.508 3.822 4.367
December 7.963 6.245 4.432 3.879 4.589

19951996199719981999
January 4.747 5.033 4.821 4.987 4.608
February 4.925 4.975 4.759 4.968 4.562
March 5.007 4.874 4.780 4.917 4.519
April 5.064 4.841 4.822 4.903 4.490
May 5.141 4.823 4.864 4.881 4.480
June 5.179 4.809 4.853 4.881 4.504
July 5.144 4.819 4.887 4.911 4.500
August 5.133 4.839 4.904 4.899 4.562
September 5.111 4.834 4.941 4.882 4.608
October 5.116 4.839 4.957 4.762 4.666
November 5.119 4.835 4.949 4.691 4.773
December 5.059 4.842 4.963 4.655 4.852

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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