The Eleventh Federal Home Loan District Cost of Funds Index has broken the 3% barrier, reaching a four-year high.According to the Federal Home Loan Bank of San Francisco, the index for October stood at 3.074%, up 10 basis points from 2.972% in September. It was the first time COFI has exceeded 3% since December 2001, when it also stood at 3.074%. COFI is a weighted average of the cost of the money that thrifts in California, Arizona, and Nevada use to originate mortgage loans. The FHLBank of San Francisco can be found on the Web at http://www.fhlbsf.com.

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