Below is A Historical Interest Rate Indexes
Note: the purpose of this table is to illustrate the trend for the COFI index to lag other
indexes. It is not a current table of rates. It was last updated April 20 1995
Here is a table with data on three popular indexes for ARMs, going back to January, 1987.
The rates are the one-year Treasury index, the three-year Treasury index, and the 11th
district Cost of Funds Index (COFI).
You can get an idea of how the indexes perform over interest rate cycles. The COFI tends
to lag behind the other indexes. For example, in 1989, the one-year rate hit a cyclical
peak in March and started to fall sharply, but the COFI kept rising until June.
Conversely, after reaching a cyclical low in January of 1994, the one-year rate shot up,
while the COFI rate edged down further until March and began to rise gradually in
subsequent months.
If this pattern continues to hold, then when you see that the rates on the one-year and
three-year have gone up in recent months, you can expect the COFI to continue to rise,
even after the other rates stabilize. Conversely, if Treasury rates have fallen sharply in
the last few months, then the COFI is likely to decline for a while.
Note: On April 20, 1995, HSH Associates came on line with a historical table of ARM
indexes. I believe they update their table regularly.
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1987 |
|
|
|
| January |
5.78 |
6.41 |
7.40 |
| February |
5.96 |
6.56 |
7.45 |
| March |
6.03 |
6.58 |
7.31 |
| April |
6.50 |
7.32 |
7.24 |
| May |
7.00 |
8.02 |
7.22 |
| June |
6.80 |
7.82 |
7.27 |
| July |
6.68 |
7.74 |
7.27 |
| August |
7.03 |
8.03 |
7.28 |
| September |
7.67 |
8.67 |
7.39 |
| October |
7.59 |
8.75 |
7.44 |
| November |
6.96 |
7.99 |
7.56 |
| December |
7.17 |
8.13 |
7.64 |
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1988 |
|
|
|
| January |
6.99 |
7.37 |
7.61 |
| February |
6.64 |
7.38 |
7.65 |
| March |
6.71 |
7.50 |
7.51 |
| April |
7.01 |
7.83 |
7.52 |
| May |
7.40 |
8.24 |
7.50 |
| June |
7.49 |
8.22 |
7.62 |
| July |
7.75 |
8.44 |
7.59 |
| August |
8.17 |
8.77 |
7.66 |
| September |
8.09 |
8.57 |
7.85 |
| October |
8.11 |
8.43 |
7.83 |
| November |
8.48 |
8.72 |
7.91 |
| December |
8.99 |
9.11 |
8.02 |
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1989 |
|
|
|
| January |
9.05 |
9.20 |
8.12 |
| February |
9.25 |
9.32 |
8.35 |
| March |
9.57 |
9.61 |
8.42 |
| April |
9.36 |
9.40 |
8.65 |
| May |
8.98 |
8.98 |
8.80 |
| June |
8.44 |
8.37 |
8.92 |
| July |
7.89 |
7.83 |
8.84 |
| August |
8.18 |
8.13 |
8.76 |
| September |
8.22 |
8.26 |
8.81 |
| October |
7.99 |
8.02 |
8.64 |
| November |
7.77 |
7.80 |
8.59 |
| December |
7.72 |
7.77 |
8.48 |
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1990 |
|
|
|
| January |
7.92 |
8.13 |
8.37 |
| February |
8.11 |
8.39 |
8.40 |
| March |
8.35 |
8.63 |
8.26 |
| April |
8.40 |
8.78 |
8.21 |
| May |
8.32 |
8.69 |
8.17 |
| June |
8.10 |
8.40 |
8.09 |
| July |
7.94 |
8.26 |
8.11 |
| August |
7.78 |
8.22 |
8.07 |
| September |
7.76 |
8.27 |
8.09 |
| October |
7.55 |
8.07 |
8.05 |
| November |
7.31 |
7.74 |
8.04 |
| December |
7.05 |
7.47 |
7.96 |
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1991 |
|
|
|
| January |
6.64 |
7.38 |
7.86 |
| February |
6.27 |
7.08 |
7.85 |
| March |
6.40 |
7.35 |
7.65 |
| April |
6.24 |
7.23 |
7.50 |
| May |
6.13 |
7.12 |
7.33 |
| June |
6.36 |
7.39 |
7.15 |
| July |
6.31 |
7.38 |
7.00 |
| August |
5.78 |
6.80 |
6.84 |
| September |
5.57 |
6.50 |
6.71 |
| October |
5.33 |
6.23 |
6.57 |
| November |
4.89 |
5.90 |
6.41 |
| December |
4.38 |
5.39 |
6.24 |
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1992 |
|
|
|
| January |
4.15 |
5.40 |
6.00 |
| February |
4.29 |
5.72 |
5.80 |
| March |
4.63 |
6.18 |
5.61 |
| April |
4.30 |
5.93 |
5.43 |
| May |
4.19 |
5.81 |
5.29 |
| June |
4.17 |
5.60 |
5.26 |
| July |
3.60 |
4.91 |
5.07 |
| August |
3.47 |
4.72 |
4.87 |
| September |
3.18 |
4.82 |
4.80 |
| October |
3.30 |
4.64 |
4.60 |
| November |
3.68 |
5.14 |
4.51 |
| December |
3.71 |
5.21 |
4.43 |
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1993 |
|
|
|
| January |
3.50 |
4.93 |
4.36 |
| February |
3.39 |
4.58 |
4.33 |
| March |
3.33 |
4.40 |
4.24 |
| April |
3.24 |
4.30 |
4.17 |
| May |
3.36 |
4.40 |
4.10 |
| June |
3.54 |
4.43 |
4.05 |
| July |
3.37 |
4.43 |
4.00 |
| August |
3.44 |
4.36 |
3.96 |
| September |
3.36 |
4.17 |
3.88 |
| October |
3.39 |
4.18 |
3.82 |
| November |
3.58 |
4.50 |
3.82 |
| December |
3.61 |
4.54 |
3.88 |
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1994 |
|
|
|
| January |
3.54 |
4.48 |
3.71 |
| February |
3.87 |
4.83 |
3.69 |
| March |
4.32 |
5.40 |
3.63 |
| April |
4.82 |
5.99 |
3.67 |
| May |
5.31 |
6.34 |
3.73 |
| June |
5.27 |
6.27 |
3.80 |
| July |
5.48 |
6.48 |
3.86 |
| August |
5.56 |
6.50 |
3.94 |
| September |
5.76 |
6.69 |
4.04 |
| October |
6.11 |
7.04 |
4.19 |
| November |
6.54 |
7.44 |
4.37 |
| December |
7.14 |
7.71 |
4.59 |
| Year/Month |
1-yr Treas |
3-yr Treas |
COFI |
| 1995 |
|
|
|
| January |
7.05 |
7.66 |
4.75 |
| February |
6.70 |
7.25 |
|
| March |
|
|
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| April |
|
|
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| May |
|
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| June |
|
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| July |
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| August |
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| September |
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| October |
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| November |
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| December |
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