After falling to nearly the lowest level ever, the 11th District Cost of Funds Index turned higher in the first month of 2017.

COFI, which is utilized as the index on a small share of legacy adjustable-rate mortgages, was 0.616 percent in January.

The index moved higher compared to the concluding month of last year, when it was calculated to be 0.599 percent.

Source: Mortgage Daily