Just a month after establishing an-all time low, the 11th District Cost of Funds Index moved lower and set another new record.

As of March 2017, COFI — an index that is utilized for some legacy adjustable-rate mortgages — landed at 0.583 percent.

The index declined compared to one month previous, when it worked out to 0.591 percent — the lowest level on record based on data back to July 1981.

Source: Mortgage Daily