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Is this the year that a reverse mortgage or HECM is right for you -- or your parents? Read our comprehensive guide to HECMs and RMs.

Is this the year that a reverse mortgage or HECM is right for you -- or your parents? Read our comprehensive guide to HECMs and RMs.

ARM Indexes: 11th District Cost of Funds (COFI)

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

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.

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 can also be seen in our Current ARM Indexes table.

L O A D I N G

ARM Indexes: 11th District Cost of Funds (COFI) from December 2018 to December 2019

Date 11th District Cost of Funds
Dec-2019 1.036
Nov-2019 1.035
Oct-2019 1.100
Sep-2019 1.127
Aug-2019 1.155
Jul-2019 1.155
Jun-2019 1.141
May-2019 1.144
Apr-2019 1.095
Mar-2019 0.958
Feb-2019 1.166
Jan-2019 1.125
Dec-2018 1.056

3-Month TCM
6-Month TCM
1-Year TCM

More ARM Indexes & Info

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