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11th District Cost of Funds Index - (COFI)

QUOTE AND NEWS
'Shot in the Arm' or Shot in the ARM?
Wall Street Journal  Jan 15  Comment 
A sharp rise in a mortgage-rate benchmark had nothing to do with the Fed raising interest rates or the loans themselves. It was triggered by a surprising and unexplained jump in something called Cofi, an index used as a benchmark to set rates.




more ▼WIKI ANALYSIS
 


The 11th District Cost of Funds Index is not an interest rate. It reflects the interest expenses reported for a given month by the COFI (Cost of Fund Index) Reporting Members (Arizona, California, and Nevada savings institution members). The COFI is a ratio of monthly interest expenses to total funds, adjusted for variation in the number of days in that month, annualized and expressed as a percentage.

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