COFI Up Again to 2.5 Year High

The 11th District Cost of Funds Index increased again the past month, this time rising to the highest level in two and a half years.

As of August 2016, COFI, which is utilized to determine rate changes on some adjustable-rate mortgages, was 0.703 percent.

The last time that the index was as high as it was last month was in February 2014, when it was calculated to be 0.709 percent.

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From:: Financing