Mortgage Rates Higher This Week

Mortgage rates were higher again this week according to Freddie Mac’s Weekly Survey. The survey showed 30 year fixed-rates were up 5 basis points this week to 3.85%. The 15 year fixed-rate was also up 5 basis points to 3.07%.

Ten Year Treasury Rate yields were at 2.24% this afternoon, up 6 basis points since last week. See our Daily Interest Rate Updates for the most current bond rates.


Note: Chart above is dynamic and reflects current survey, updated weekly.

For TODAYS’s Mortgage Rates, see below or find more home lenders at http://moneycafe.com/personal-finance/mortgage-rates/.

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Wells Fargo COSI replaces Wachovia COSI

Wells Fargo officially replaced the Wachovia COSI (Cost of Savings Index) with a new Wells Fargo COSI.  The initial rate is 2.40% and is reflective of the November 2009 COSI.  See http://www.moneycafe.com/library/cosi.htm for more information, including charts and graphs.

This new index is based upon the interest rates paid by Wells Fargo’s banks on certificates of deposits held by individual depositors as of the last business day of each month. This index is specific to the Wells Fargo banking group and is a weighted average of the relevant deposits. The COSI is basically reflective of the rate Wells Fargo is currently paying to individuals for their CD’s, also known as personal time deposits.  We anticipate Wells Fargo will report this rate a couple of weeks after the end of the previous month.

Prior to July 2007, this index was known as the World Savings COSI.  From July 2007 to October 2009 it was known as the Wachovia COSI.

See:
http://www.moneycafe.com/library/cosi.htm

Rate Updates Today

All of the LIBOR rates are down over last month.  See links below.

The 1 Year Constant Maturity Treasury Rate (1 Year CMT) was 0.55% for April.  This brings the 12 Month Treasury Average (12 MTA) down to 1.340% nearing it’s low for the last decade.

As announced yesterday, the 11th District Cost of Funds Index (COFI) dropped again in March to 1.627%.   For comparison, the Certificates of Deposit Index (CODI) was 2.428% for March and the Wachovia Cost of Savings Index (COSI) was unchanged at 3.60% (unconfirmed number) for March.

All of our rate data, graphs and charts have been updated to reflect the new data. 

See:
http://www.moneycafe.com/library/libor.htm
http://www.moneycafe.com/library/1monthlibor.htm
http://www.moneycafe.com/library/3monthlibor.htm
http://www.moneycafe.com/library/6monthlibor.htm
http://www.moneycafe.com/library/cmt.htm
http://www.moneycafe.com/library/mta.htm
http://www.moneycafe.com/library/cofi.htm
http://www.moneycafe.com/library/codi.htm
http://www.moneycafe.com/library/cosi.htm

COFI Drops

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. 

See:
http://www.moneycafe.com/library/cofi.htm
http://www.moneycafe.com/library/codi.htm
http://www.moneycafe.com/library/cosi.htm

April 1st, 2009|Mortgage Rates|

11th District Cost of Funds Index update

The 11th District Cost of Funds Index (COFI) was updated this afternoon.  The rate reported today is 2.455% and represents January’s COFI.

11th District Cost of Funds Index

Monthly LIBOR rates, the Wachovia Cost of Savings Index (COSI) and the Certificates of Deposit Index (CODI) were also upated.  The Prime Rate remains 3.25%.

See:
http://www.moneycafe.com/library/cofi.htm
http://www.moneycafe.com/library/libor.htm
http://www.moneycafe.com/library/cosi.htm
http://www.moneycafe.com/library/codi.htm
http://www.moneycafe.com/library/primerate.htm

February 27th, 2009|Mortgage Rates|