For the fourth consecutive month, the Eleventh Federal Home Loan District Cost of Funds Index stands below the 2% mark, as it continues to set an all-time record low.The index for November, as calculated by the Federal Home Loan Bank of San Francisco, is 1.821%, down almost 9 basis points from 1.909% in October. The index stood at 2.537% in November 2002, 3.368% in November 2001, and 5.607% in November 2000. COFI is a weighted average of what savings institutions in Arizona, California, and Nevada pay in interest on various sources of mortgage money, including deposits.
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