Average Mortgage Rates and Indexes

Weekly Survey of 60 Southland Lenders as of Jan. 23, 2003

Compiled by National Financial News Services

*--* Latest week One week previous Six months previous Rates for loans up to $322,700 30-year fixed 5.58%/1.52 pt 5.66%/1.55 pt 6.06%/1.77 pt 30-year ARM 2.99%/0.89 pt 3.01%/0.85 pt 3.73%/0.85 pt start rate 15-year fixed 5.06%/1.58 pt 5.10%/1.58 pt 5.49%/1.43 pt Rates for loans over $322,700 30-year fixed 5.71%/1.50 pt 5.78%/1.50 pt 6.32%/1.56 pt 30-year ARM 3.10%/0.76 pt 3.10%/0.82 pt 3.90%/0.95 pt start rate 15-year fixed 5.29%/1.43 pt 5.33%/1.36 pt 5.93%/1.23 pt FHA or VA 6.21%/0.66 pt 6.25%/0.66 pt 6.58%/0.90 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 1.340% 1.370% 1.890% 1-year 1.380% 1.380% 1.880% Treasury bill 6-month 1.230% 1.230% 1.700% Treasury bill 6-month CD 1.260% 1.290% 1.810% Prime rate 4.250% 4.250% 4.750% 11th District Nov. ’02 Oct. ’02 May ’02 cost-of-funds 2.537% 2.708% 2.723%

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