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Archive for the 'Mortgage Terms' Category

COFI Index - What is it?

Posted in Delaware Mortgage Rates, Mortgage Education, Adjustable Rate Mortgage, Definitions, Mortgage Terms on July 6th, 2007 No Comments »

COFI
Cost of Funds Index (COFI)
This is a monthly cost-of-funds index (COFI) reflecting the weighted-average interest rate paid by a particular Federal Home Loan Bank District savings institution on savings and checking accounts. The 11th District is the one most commonly used, which covers Arizona, California and Nevada. The COFI index is published on the last […]

MTA Index - What is it?

Posted in Delaware Mortgage Rates, Mortgage Education, Adjustable Rate Mortgage, Delaware Mortgage Loans, Definitions, Mortgage Terms on July 3rd, 2007 No Comments »

MTA
Monthly Treasury Average (1 year MTA)
This index is determined by averaging one-year Treasury bills each month over the prior 12 month time period. This is an index used to set the cost of various variable-rate loans, particularly adjustable-rate mortgages. The use of the 1-Year MTA as a loan index is relatively new. The MTA generally […]

LIBOR Index - What is it?

Posted in Delaware Mortgage Rates, Mortgage Education, Adjustable Rate Mortgage, Definitions, Mortgage Terms on July 2nd, 2007 No Comments »

LIBOR
London Inter-Bank Offered Rate (LIBOR)
LIBOR is the rate of interest that member banks of the British Bankers’ Association charge when they lend money to one another in the wholesale money markets in London, somewhat similar to our Fed Funds Rate. In fact, the LIBOR tends to closely track the US Fed Funds Rate. LIBOR is […]

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