The 11th District Cost of Funds Index fell to the lowest level on record in its 36-year history even as another index moved higher.

COFI, which is utilized as an index for some legacy adjustable-rate mortgages, was determined to be 0.591 percent in February.

Based on data going back to July 1981, the most-recent index turned out to be the lowest ever, breaking the record set in October 2016.

Source: Mortgage Daily