CODI
- CERTIFICATE OF DEPOSIT INDEX
Sometimes referred to as the Pick-A-Payment loan or Equity Builder loan
Although
the option arm was a good choice with home prices going up or stabilized,
in today's declining market and atmosphere of very tight financial guidelines,
many people are refinancing out of them to save the remaining equity in
their homes. If you have a CODI loan option arm with Countrywide, IndyMac,
Greenpoint, Wachovia, World Savings, Bank United, Downey, Chevy Chase,
Washington Mutual or any other option arm lender and you want to refinance,
give us a call to go over your available loan options before your minimum
payment disappears and the rates go up.
IF
YOU HAVE A WACHOVIA / WORLD SAVINGS OPTION ARM -- THEY ARE NOW WAIVING
THE PREPAYMENT PENALTY SO THAT YOU CAN REFINANCE.
PLEASE CALL 866-535-8987 ABOUT YOUR AVAILABLE OPTIONS.
DUE
TO MARKET CONDITIONS, THE OPTION ARM IS GONE.
FOR MORE INFORMATION
CALL TOLL-FREE: 866-535-8987
Powered by
www.LiveChatNow.com
CODI - Certificate
of Deposit Index. A CODI loan is based on one of the most stable indexes
currently available. Simply put, it is the aggregate sum of what banks
are paying to their depositors on their 3-month CD accounts! As we all
know, these short-term CDs generally offer a very low rate of return.
Currently, the average rate paid by a bank on a 3-month CD is approximately
1.40%. The overall index is calculated by using an average, of an average,
of an average. It works this way: they take the daily average of these
3-month CDs and add those daily values together for one month. They then
divide that sum by the number of days in the month to reach a monthly
value. Next, they add that current monthly value to the previous 11 monthly
values and divide by 12 to guve us the current CODI Index. So, will the
banks raise the rate they PAY to customers anytime soon? Obviously, they
won't. Due to the lack of competition between banks (notice how there
are only maybe 10 banks in your area), they know you have to put your
money somewhere. Without competition, they know that they have an excellent
chance that they will get your deposit, therefore, they do not have to
offer any incentive (i.e. higher rate of return) to get your business.
FOR MORE INFORMATION ON A CODI LOAN CALL 866-535-8987
OR FILL OUT OUR ONLINE MORTGAGE APPLICATION
CODI
INDEX FROM JANUARY 01 THRU PRESENT (Check back for updates)
|
| Jan
02 |
6.456% |
Jan
02 |
3.687%
|
Jan
03 |
1.767%
|
Jan
04 |
1.132% |
Jan
05 |
1.692% |
Jan
06 |
3.674% |
| Feb
02 |
6.428% |
Feb
02 |
3.363% |
Feb
03 |
1.688%
|
Feb
04 |
1.113% |
Feb
05 |
1.835% |
Feb
06 |
3.836% |
| Mar
02 |
6.366% |
Mar
02 |
3.077%
|
Mar
03 |
1.643%
|
Mar
04 |
1.098% |
Mar
05 |
1.995% |
Mar
06 |
3.995% |
| Apr
02 |
6.262% |
Apr
02 |
2.828% |
Apr
03 |
1.586% |
Apr
04 |
1.085% |
Apr
05 |
2.163% |
Apr
06 |
4.157% |
| May
02 |
6.116% |
May
02 |
2.828% |
May
03 |
1.533%
|
May
04 |
1.083% |
May
05 |
2.331% |
May
06 |
4.318% |
| June
02 |
5.892% |
June
02 |
2.423%
|
June
03 |
1.483% |
June
04 |
1.118% |
June
05 |
2.491% |
June
06 |
4.482% |
| July
02 |
5.643% |
July
02 |
2.263%
|
July
03 |
1.419% |
July
04 |
1.161% |
July
05 |
2.658% |
July
06 |
|
| Aug
02 |
5.392% |
Aug
02 |
2.107%
|
Aug
03 |
1.358%
|
Aug
04 |
1.211% |
Aug
05 |
2.832% |
Aug
06 |
|
| Sept
02 |
4.820% |
Sept
02 |
1.961%
|
Sept
03 |
1.303%
|
Sept
04 |
1.276% |
Sept
05 |
3.000% |
Sept
06 |
|
| Oct
02 |
4.820% |
Oct
02 |
1.868%
|
Oct
03 |
1.194%
|
Oct
04 |
1.355% |
Oct
05 |
3.174% |
Oct
06 |
|
| Nov
02 |
4.457% |
Nov
02 |
1.820%
|
Nov
03 |
1.171% |
Nov
04 |
1.451% |
Nov
05 |
3.345% |
Nov
06 |
|
| Dec
02 |
4.072% |
Dec
02 |
1.767%
|
Dec
03 |
1.151% |
Dec
04 |
1.563% |
Dec
05 |
3.511% |
Dec
06 |
|
Copyright
© by DRG Marketing - All Rights Reserved
|
