Correct Figure for June 1996 Cost of Funds Index Announced by Federal Home Loan Bank of San Francisco.SAN FRANCISCO--(BUSINESS WIRE)--July 31, 1996--The June 1996 monthly weighted average cost of funds index A Cost of Funds Index or COFI is a regional average of interest expenses incurred by financial institutions, which in turn is used as a base for calculating variable rate loans. for Eleventh In music or music theory an eleventh is the note eleven scale degrees from the root of a chord and also the interval between the root and the eleventh. Since there are only seven degrees in a diatonic scale the eleventh degree is the same as the subdominant and the interval District savings institutions is 4.809%, the Federal Home Loan Bank of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden announced at 7:38 p.m. Pacific Daylight Time on July 31, 1996. It is not 4.775% as announced at approximately 3 p.m. Pacific Daylight Time on July 31, 1996. The Federal Home Loan Bank of San Francisco was informed by two member savings institutions after the initial announcements that the information supplied by those institutions for the purpose of calculating the Eleventh District cost of funds index for June was in error. The institutions subsequently provided corrected information, which was used in calculating the correct index value. The cost of funds index reflects the interest paid by savings institutions in Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). , California and Nevada on their various sources of mortgage money. Changes in interest rates on adjustable rate mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. offered by many savings institutions and commercial banks are tied to changes in the index. CONTACT: Federal Home Loan Bank of San Francisco Amy Stewart, 415/616-2605 |
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