Federal Home Loan Bank of San Francisco Releases August 1995 Cost of Funds Index.SAN FRANCISCO--(BUSINESS WIRE)--Sept. 29, 1995--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 Sept. 29, 1995, that the 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 for August 1995 is 5.133%. The index for July 1995 was 5.144%. Changes in interest rates on adjustable rate mortgage 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. loans offered by many savings institutions and commercial banks are tied to changes in the index. The cost of funds index reflects the interest paid by savings institutions in Arizona, California and Nevada on their various sources of mortgage money. The monthly index is announced on or near the last working day of the month. The Bank cannot guarantee the announcement of the monthly index on an exact date. CONTACT: Federal Home Loan Bank of San Francisco Amy Stewart, 415/616-2605 |
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