COFI: 11th District Cost of Funds Index
Published by The Federal Home Loan Bank of San Francisco, COFI is the acronym for the 11th District Monthly Weighted Average Cost of Funds Index. The COFI is not an interest rate. It reflects the interest expenses reported for a given month by the COFI Reporting Members, as described below. The interest expenses are incurred from the COFI Reporting Members' various sources of funds. Deposits -- including checking and savings accounts, certificates of deposit, money market deposit accounts, transaction accounts, and passbook accounts (collectively known as "Deposit Accounts") -- are the primary source of funds for most savings institutions. Other sources of funds include loans obtained through the credit program of the Bank (known as "advances") and from other sources. more info...
COSI: Cost of Savings Index
Golden West Financial Corporation is the parent company of World Savings. World Savings borrows money from consumers in the form of deposits and then lends the money out as home mortgages. The interest rates in effect on these deposits are the basis for the Cost of Savings Index (COSI). The COSI is not based on actual interest paid on deposit accounts, but rather on a weighted annualized rate of all interest rates in effect on deposit accounts as of the last day of each month. WHEN IS THE INDEX ANNOUNCED? Golden West computes the COSI as of the last day of each calendar month and announces it on or near the last business day prior to the fifteenth day of the following calendar month. For example, Golden West announces the February COSI on or near the last business day prior to the fifteenth of March. It is in effect until the announcement of the March COSI in April. HOW IS COSI CALCULATED? The monthly index is a ratio of monthly interest costs to total funds, expressed as a percentage. Annualized interest, the numerator, is calculated by multiplying the deposit balances at the end of each month by the weighted average interest rate of each account type that was effective on the last day of the month. Total deposits, the denominator, is the total balance of deposits on the last day of the month. The quotient resulting from dividing the annual-iz-ed interest by total deposits, multiplied by 100 and expressed, as a percentage, is the Weighted Average Cost of Savings (COSI) COSI Calculation.
MTA: 12-Month Treasury Average Index
12-MTA index is based on yields published in the release entitled the "Selected Interest Rates-H-15" which is published by the Federal Reserve Board on the first Tuesday of each month. The investor performs a simple calculation of averaging the preceding 12-month annual yield to come up with the current index value that is published on the pricing guide." More info at Google Answers...
1-Month LIBOR: 1 Month London Inter-Bank Offered Rate
LIBOR stands for "London Inter-Bank Offered Rate." It is based on rates that contributor banks in London offer each other for inter-bank deposits. From a bank's perspective, deposits are simply funds that are loaned to them. So in effect, a LIBOR is a rate at which a fellow London bank can borrow money from other banks. Rate calculations are complex as they incorporate variables such as time, maturity and currency rates. There are hundreds of LIBOR rates reported each month in numerous currencies. We only report the 1 Year LIBOR as published monthly by Fannie Mae. This is a LIBOR for a one year deposit in U.S. Dollars during a given month. More info at Google Answers...
6-Month LIBOR: 6 Months London Inter-Bank Offered Rate
LIBOR stands for "London Inter-Bank Offered Rate." It is based on rates that contributor banks in London offer each other for inter-bank deposits. From a bank's perspective, deposits are simply funds that are loaned to them. So in effect, a LIBOR is a rate at which a fellow London bank can borrow money from other banks. Rate calculations are complex as they incorporate variables such as time, maturity and currency rates. There are hundreds of LIBOR rates reported each month in numerous currencies. We only report the 1 Year LIBOR as published monthly by Fannie Mae. This is a LIBOR for a one year deposit in U.S. Dollars during a given month. More info at Google Answers...
LIBOR: London Inter-Bank Offered Rate
LIBOR stands for "London Inter-Bank Offered Rate." It is based on rates that contributor banks in London offer each other for inter-bank deposits. From a bank's perspective, deposits are simply funds that are loaned to them. So in effect, a LIBOR is a rate at which a fellow London bank can borrow money from other banks. Rate calculations are complex as they incorporate variables such as time, maturity and currency rates. There are hundreds of LIBOR rates reported each month in numerous currencies. We only report the 1 Year LIBOR as published monthly by Fannie Mae. This is a LIBOR for a one year deposit in U.S. Dollars during a given month. More info at Google Answers...
Prime: Prime Rate
The Prime Rate is the interest rate charged by banks for short-term loans to their most creditworthy customers whose credit standing is so high that little risk to the lender is involved. Only a small percentage of customers qualify for the prime rate, which tends to be the lowest going interest rate and thus serves as a basis for other, higher risk loans. The rate is almost always the same amongst major banks. Adjustments to the prime rate are made by banks at the same time; although, the prime rate does not adjust on any regular basis. The prime rate is not very volatile index however it generally rises quickly but declines very slowly. More info at Google Answers...
Fixed: Freddie Mac's 30-Year Fixed Rate
Monthly Average Commitment Rate And Points On 30-Year Fixed-Rate Mortgages. (note: points not listed in charts generated by this website). more info...
Fixed: Federal Funds Rate
The interest rate at which a depository institution lends immediately available funds (balances at the Federal Reserve) to another depository institution overnight. more info...
CODI: Certificate of Deposit Index
The Certificate of Deposit Index (CODI) is the 12 month average of the monthly average yields on the nationally published 3-Month Certificate of Deposit rates. Information on monthly yields on 3-month certificates of deposit (secondary market) is published by the Federal Reserve Board. Lenders calculate the average by adding the 12 most recently published monthly yields together and dividing the result by 12. more info...
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