COFI Keeps Climbing

The Eleventh Federal Home Loan District Cost of Funds Index has increased for the eighth consecutive month, reaching 2.183% in January.This is a 6.5-basis-point increase from 2.118% in December. According to data from the website of the Federal Home Loan Bank of San Francisco, the current streak of increases in COFI is the longest since one that started in July 1999 and ended in December 2000. Since reaching a low of 1.708% in May 2004, COFI has increased 47.5 bps. In comparison, for the first eight months of the streak that began in July 1999, COFI increased slightly more than 50 bps.