COFI Shows Bank Savings Rates Getting Better

Have you noticed that if you do your research, you can get better CD rates now than a few weeks ago?

• Article: How to Get the Best CD Rates

On June 30, 2009 the Federal Home Loan Bank of San Francisco announced its 11th District Cost of Funds Index surged 33% in May to 1.832% from its record April 2009 low of 1.38%.

According to the Federal Home Loan Bank of San Francisco:

The 11th District Monthly Weighted Average Cost of Funds Index (COFI: 11th Districty Cost of Funds Index History ) is one of many indices used by mortgage lenders to adjust the interest rate on adjustable rate mortgages. The COFI is computed from the actual interest expenses reported for a given month by the Arizona, California, and Nevada savings institution members of the Federal Home Loan Bank of San Francisco that satisfy the Bank's criteria for inclusion in the COFI.

Index Month	Index Value
May 2009	1.832
April 2009	1.380
March 2009	1.627
February 2009	2.003
January 2009	2.455
December 2008	2.757
November 2008	3.155
October 2008	3.125
September 2008	2.769
August 2008	2.693
July 2008	2.698
June 2008	2.829
May 2008	2.918
More Data	Here

The Federal Home Loan Bank of San Francisco first published the 11th District Monthly Weighted Average Cost of Funds Index on August 28, 1981, for the month of July 1981.

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