Average Mortgage Rates and Indexes

Weekly Survey of 60 Southland lenders as of December 19, 2002

Compiled by National Financial News Services

*--* Latest week One week previous Six months previous Rates for loans up to $300,700 30-year fixed 5.71%/1.42 pt 5.74%/1.50 pt 6.25%/1.46 pt 30-year ARM 2.99%/0.92 pt 3.01%/1.08 pt 3.66%/1.00 pt start rate 15-year fixed 5.04%/1.69 pt 5.07%/1.75 pt 5.60%/1.84 pt Rates for loans over $300,700 30-year fixed 5.95%/1.41 pt 5.94%/1.50 pt 6.49%/1.34 pt 30-year ARM 3.10%/0.87 pt 3.12%/0.94 pt 4.03%/0.98 pt start rate 15-year fixed 5.31%/1.41 pt 5.36%/1.44 pt 6.13%/1.06 pt FHA or VA 6.21%/0.66 pt 6.25%/0.66 pt 6.73%/0.95 pt mortgage Average / points CALVET 30-year 5.40%/0.00 pt 5.40%/0.00 pt 6.50%/0.00 pt 6-month LIBOR 1.420% 1.420% 1.990% 1-year 1.430% 1.470% 2.240% Treasury bill 6-month 1.260% 1.250% 1.810% Treasury bill 6-month CD 1.350% 1.370% 1.890% Prime rate 4.250% 4.250% 4.750% 11th District Oct. ’02 Sept. ’02 Apr. ’02 cost-of-funds 2.708% 2.759% 2.653%

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