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Current Indices
This information is provided by a third party source and is made available to Indymac customers for reference purposes. Indymac Bank has no control or responsibility for this information, makes no representation, warranty or guarantee with respect to its accuracy, and expressly disclaims any liability in connection with its use.
1-Year Constant Maturity Treasury (CMT) - Weekly (last update at 05/13/2008 6:01:00 AM) These indices are the weekly or monthly average yields on U.S. Treasury securities adjusted to constant maturities. Yields on Treasury securities at "constant maturity" are interpolated by the U.S. Treasury from the daily yield curve, which is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. The CMT indices are volatile and move with the market. They reflect the state of the economy, and respond quickly to economic changes. These indices react more quickly than the COF index or the (12 MTA) index.
12-Month Treasury Average (12 MTA) (last update at 05/06/2008 4:54:00 AM) The Monthly Treasury Average is a relatively new ARM index. This index is the 12-month average of the monthly average yields of U.S. Treasury securities adjusted to a constant maturity of one year. It is calculated by averaging the previous 12 monthly values of the 1-Year CMT. Because this index is an annual average, it is more steady than the 1-Year CMT index. The MTA index generally fluctuates slightly more than the 11th District COFI, although its movements track each other very closely.
11th District Cost Of Funds Index (COFI) (last update at 05/01/2008 4:43:00 AM) This index reflects the weighted-average interest rate paid by 11th Federal Home Loan Bank District savings institutions for savings and checking accounts, advances from the FHLB, and other sources of funds. The 11th District represents the savings institutions (savings & loan associations and savings banks) headquartered in Arizona, California and Nevada. Since the largest part of the Cost Of Funds Index is interest paid on savings accounts, this index lags market interest rates in both uptrend and downtrend movements. As a result, ARMs tied to this index rise (and fall) more slowly than rates in general, which is good for you if rates are rising but not good for you if rates are falling.
London InterBank Offered Rate 1-Year LIBOR (last update at 05/13/2008 6:01:00 AM) London InterBank Offering Rate (LIBOR) is an average of the interest rate on dollar-denominated deposits, also known as Eurodollars, traded between banks in London. The Eurodollar market is a major component of the international financial market. London is the center of the Euromarket in terms of volume. The LIBOR is an international index, which follows the world economic condition. It allows international investors to match their cost of lending to their cost of funds. The LIBOR compares most closely to the 1-Year CMT index and is more open to quick and wide fluctuations than the COFI rate.
London InterBank Offered Rate 1-Month LIBOR (last update at 05/13/2008 6:01:00 AM) London InterBank Offering Rate (LIBOR) is an average of the interest rate on dollar-denominated deposits, also known as Eurodollars, traded between banks in London. The Eurodollar market is a major component of the international financial market. London is the center of the Euromarket in terms of volume. The LIBOR is an international index, which follows the world economic condition. It allows international investors to match their cost of lending to their cost of funds. The LIBOR compares most closely to the 1-Year CMT index and is more open to quick and wide fluctuations than the COFI rate.
London InterBank Offered Rate 6-Month LIBOR (last update at 05/13/2008 6:01:00 AM) London InterBank Offering Rate (LIBOR) is an average of the interest rate on dollar-denominated deposits, also known as Eurodollars, traded between banks in London. The Eurodollar market is a major component of the international financial market. London is the center of the Euromarket in terms of volume. The LIBOR is an international index, which follows the world economic condition. It allows international investors to match their cost of lending to their cost of funds. The LIBOR compares most closely to the 1-Year CMT index and is more open to quick and wide fluctuations than the COFI rate.
Prime Rate (last update at 05/01/2008 4:43:00 AM) The Prime Rate is the interest rate charged by banks for short-term loans to their most creditworthy customers whose credit standing is so high that little risk to the lender is involved. Only a small percentage of customers qualify for the prime rate, which tends to be the lowest going interest rate and thus serves as a basis for other, higher risk loans. The rate is almost always the same amongst major banks. Adjustments to the prime rate are made by banks at the same time, although, the prime rate does not adjust on any regular basis. The prime rate is not a very volatile index however it generally rises quickly but declines very slowly.
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