As announced yesterday, the 11th District Cost of Funds Index (COFI) dropped significantly in February to 2.003%. (The COFI for January was 2.455%.) This is similar to what happened last year when there was a sizable drop from January to February.
By comparison, the Certificates of Deposit Index (CODI) was 2.572% for February, down from 2.730% in January.
The Wachovia Cost of Savings Index (COSI) was at 3.60% in February, down only from 3.69% in January. We are still waiting for the sizable drop in this index.
All of our rate data, graphs and charts will be updated later today upon reciept of the March treasury rate data from the Federal Reserve.