National Monthly Median Cost of Funds Index (COFI), Historical Data

The National Monthly Median Cost of Funds index was first introduced in December 1982. It is defined as interest (dividends) paid or accrued on deposits, FHLB advances and on other borrowed money during a month as a percent of balances of deposits and borrowings at month end, annualized by multiplying by 12 and adjusted for variation in length of month.

The monthly Cost of Funds reports (current and historical), which provide information about funding costs for institutions formerly regulated by the Office of Thrift Supervision (OTS) were issued by The Office of the Comptroller of the Currency (OCC).

The data in the most recent reports was derived from the OTS Monthly Cost of Funds Survey System (OTS Form 1568), which savings associations that were regulated by the OTS as of July 20, 2011, continued to file through December 31, 2011.

On July 21, the OTS became part of the OCC and the OCC assumed responsibility for collecting and publishing this data.

Note: The report for December 2011 is the last monthly index report. The report is discontinued.

National Monthly Median Cost of Funds Index Starting from May of 1979

	1979	1980	1981	1982	1983	1984	1985	1986	1987
January		8.09	9.50	11.44	10.14	9.89	9.75	8.50	7.22
February		8.29	9.82	11.26	9.75	9.73	9.40	8.29	7.02
March		7.95	10.24	11.37	9.72	9.73	9.36	8.35	6.99
April		8.79	10.40	11.35	9.62	9.64	9.29	8.22	6.93
May	7.35	9.50	10.59	11.39	9.62	9.74	9.19	8.12	6.92
June	7.27	9.41	10.79	11.38	9.54	9.67	8.95	7.95	6.90
July	7.44	9.18	10.92	11.54	9.65	9.90	8.87	7.94	6.96
August	7.49	8.98	10.76	11.50	9.81	10.01	8.77	7.80	6.95
September	7.38	8.78	11.02	11.17	9.74	9.93	8.63	7.59	6.93
October	7.47	8.60	11.53	10.91	9.85	10.15	8.59	7.50	7.03
November	7.77	8.68	11.68	10.62	9.82	10.04	8.50	7.33	7.04
December	7.87	8.84	11.58	10.43	9.90	9.92	8.48	7.28	7.11
	1988	1989	1990	1991	1992	1993	1994	1995	1996
January	7.12	7.52	7.90	7.48	6.01	4.44	3.87	4.44	5.01
February	7.11	7.59	7.80	7.33	5.78	4.34	3.76	4.49	4.90
March	7.13	7.71	7.82	7.30	5.63	4.31	3.81	4.69	4.92
April	7.12	7.84	7.75	7.16	5.48	4.24	3.81	4.79	4.87
May	7.11	7.99	7.58	7.07	5.38	4.18	3.85	4.91	4.87
June	7.11	8.01	7.66	6.94	5.25	4.10	3.86	4.93	4.82
July	7.14	8.07	7.68	6.85	5.13	4.09	3.91	4.98	4.87
August	7.21	8.08	7.66	6.76	4.98	4.04	3.97	5.01	4.87
September	7.21	8.02	7.59	6.61	4.84	3.96	4.01	4.98	4.84
October	7.29	8.01	7.63	6.53	4.74	3.95	4.11	5.03	4.89
November	7.35	7.99	7.59	6.40	4.59	3.90	4.17	4.92	4.76
December	7.40	7.92	7.54	6.25	4.51	3.90	4.32	5.01	4.87
	1997	1998	1999	2000	2001	2002	2003	2004	2005
January	4.92	4.96	4.63	4.63	5.22	3.79	2.83	2.22	2.27
February	4.79	4.85	4.57	4.67	5.17	3.65	2.73	2.15	2.30
March	4.90	4.92	4.54	4.68	5.09	3.55	2.70	2.14	2.34
April	4.89	4.91	4.53	4.73	5.01	3.48	2.62	2.12	2.39
May	4.94	4.91	4.48	4.83	4.90	3.38	2.57	2.08	2.43
June	4.90	4.87	4.48	4.88	4.78	3.32	2.50	2.09	2.48
July	4.96	4.90	4.47	4.96	4.68	3.28	2.41	2.09	2.54
August	4.97	4.90	4.46	5.05	4.59	3.21	2.36	2.11	2.61
September	4.92	4.85	4.49	5.09	4.45	3.13	2.32	2.15	2.67
October	4.98	4.84	4.52	5.13	4.27	3.10	2.28	2.16	2.74
November	4.93	4.77	4.57	5.20	4.09	3.00	2.25	2.18	2.82
December	4.97	4.74	4.60	5.21	3.90	2.90	2.22	2.22	2.86
	2006	2007	2008	2009	2010	2011
January	2.94	3.71	3.74	2.78	1.98	1.48
February	3.00	3.71	3.59	2.68	1.94	1.44
March	3.06	3.74	3.45	2.62	1.9	1.43
April	3.11	3.76	3.32	2.54	1.83	1.39
May	3.21	3.79	3.22	2.48	1.8	1.37
June	3.28	3.79	3.1	2.43	1.78	1.34
July	3.35	3.81	3.06	2.36	1.74	1.31
August	3.45	3.84	3.02	2.33	1.7	1.28
September	3.52	3.85	2.99	2.26	1.66	1.25
October	3.57	3.83	2.95	2.17	1.62	1.22
November	3.63	3.81	2.89	2.13	1.57	1.20
December	3.67	3.77	2.86	2.05	1.53	1.16

Source: Office of Thrift Supervision (OTS): Cost of Funds Report. / The Office of the Comptroller of the Currency (OCC)

Full Name: National Monthly Median Cost of Funds Ratio for OTS-Regulated, SAIF-Insured Institutions.

Note: Effective with the January 1999 index, the OTS is using a revised methodology that dampens significantly the month-to-month volatility in the index caused by the change in the number of days in the month. In addition to some other technical modifications, the new methodology assumes an average length of month of 30.4375 days, the average number of days in a month over a four-year period. The index value for January 1999 using the old methodology would have been 4.71%.

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 National Monthly Median 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.

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

Related Articles:

COFI-indexed ARMs And Their Advantages

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