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The Federal Cost of Funds Index (COFI): Historical Data

11th District Cost of Funds Index + National Monthly Median Cost of Funds Index + Cost of Funds Index FAQ

The Federal Cost of Funds Index Starting from January of 1976*
* The Federal Home Loan Mortgage Corporation first published the Federal Cost of Funds Index in March, 1991.
The values available for earlier years illustrating what the index values would have been
for those periods were calculated by the FHLMC for research purposes only.

 

1976 1977 1978 1979 1980 1981 1982 1983 1984 1985
January  6.775  6.271  6.782  8.398 10.316 11.871 12.883 10.966 10.642 10.748
February 6.708 6.211 6.921 8.576 10.617 12.380 12.990 10.815 10.789 10.616
March 6.629 6.182 6.995 8.834 11.224 12.302 13.036 10.672 10.694 10.570
April 6.558 6.163 7.033 8.891 11.553 12.378 13.109 10.644 10.852 10.490
May 6.587 6.146 7.136 8.945 11.128 12.645 13.131 10.532 11.085 10.330
June 6.586 6.188 7.232 8.937 10.497 12.830 13.158 10.526 11.028 10.164
July 6.560 6.232 7.328 8.960 9.976 13.046 12.512 10.566 11.163 9.977
August 6.571 6.275 7.403 9.005 9.887 13.288 12.771 10.620 11.309 9.845
September 6.570 6.361 7.533 9.120 9.940 13.575 12.336 10.643 11.372 9.708
October 6.542 6.487 7.699 9.396 10.088 13.610 11.917 10.646 11.403 9.589
November 6.478 6.583 7.992 9.821 10.594 13.349 11.589 10.637 11.206 9.539
December 6.333 6.685 8.181 10.105 11.342 12.160 11.207 10.663 10.982 9.440

 

1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
January 9.406 7.742 7.834 8.523 8.557 8.036 6.894 5.376 4.883 6.129
February 9.325 7.661 7.798 8.644 8.555 7.892 6.436 5.303 4.872 6.250
March 9.184 7.596 7.736 8.798 8.500 7.792 6.324 5.222 4.928 6.336
April 9.018 7.618 7.720 8.898 8.495 7.662 6.197 5.177 5.007 6.380
May 8.855 7.613 7.738 8.952 8.506 7.507 6.091 5.119 5.100 6.387
June 8.695 7.610 7.786 8.926 8.509 7.431 6.006 5.064 5.238 6.352
July 8.551 7.627 8.010 8.861 8.492 7.346 5.861 5.060 5.353 6.311
August 8.400 7.634 7.965 8.776 8.439 7.254 5.739 4.990 5.446 6.272
September 8.179 7.697 8.089 8.714 8.408 7.160 5.611 4.966 5.562 6.254
October 8.033 7.830 8.174 8.628 8.428 7.055 5.514 4.973 5.676 6.225
November 7.891 7.820 8.143 8.555 8.252 6.949 5.413 4.899 5.797 6.177
December 7.781 7.814 8.399 8.516 8.178 6.776 5.384 4.892 5.971 6.152

 

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
January 6.084 5.928 5.937 5.505 5.671 6.078 3.841 2.919 2.373 2.869
February 5.988 5.934 5.911 5.457 5.752 5.916 3.687 2.829 2.339 2.960
March 5.957 5.943 5.895 5.443 5.864 5.729 3.646 2.770 2.300 3.096
April 5.929 5.960 5.871 5.414 5.897 5.571 3.582 2.717 2.293 3.182
May 5.920 5.986 5.855 5.396 5.961 5.291 3.526 2.663 2.295 3.233
June 5.935 5.984 5.838 5.405 6.009 5.117 3.510 2.566 2.339 3.315
July 5.951 5.973 5.827 5.422 6.053 4.985 3.437 2.512 2.425 3.401
August 5.977 5.971 5.809 5.446 6.096 4.811 3.373 2.465 2.466 3.498
September 5.991 5.963 5.768 5.461 6.125 4.695 3.278 2.430 2.558 3.589
October 5.977 5.941 5.669 5.508 6.166 4.489 3.214 2.408 2.633 3.689
November 5.970 5.924 5.579 5.547 6.185 4.170 3.125 2.401 2.684 3.785
December 5.940 5.930 5.522 5.612 6.171 4.004 3.013 2.371 2.780 3.880
Source: Federal Home Loan Mortgage Corporation (Freddie Mac).

The Federal Cost of Funds Index (COFI) is calculated as the sum of the monthly average interest rates for marketable Treasury bills and for marketable Treasury notes, divided by two, and rounded to three decimal places. It is used as a benchmark for some types of mortgage loans and securities.

Historical Data: Mortgage-X compiles historical values for the indexes which are widely used on adjustable rate mortgages (ARMs). Click here for a history of the Federal Cost of Funds Index (Starting from January of 1990).

Mortgage Professionals Offering COFI-indexed Loans: If you are looking for a COFI-indexed ARM and need more information or advice, we invite you to take advantage of our database of the most competitive lenders available. Just complete a short loan request form and the best lenders in your local area will contact you with their rates and fees.

Note: Besides the Federal Cost of Funds index lenders may also use the other Cost Of Funds indexes, e.g. 11th District Cost Of Funds index, National Monthly Median Cost of Funds.

Related Articles:

COFI-indexed ARMs And Their Advantages

COFI: Frequently Asked Questions

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