Average Mortgage Rates and Indexes

Weekly Survey of 60 Southland Lenders as of Jan. 2, 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 5.64%/1.53 pt 5.66%/1.40 pt 6.22%/1.64 pt 30-year ARM 3.03%/0.76 pt 3.01%/0.83 pt 3.83%/0.88 pt start rate 15-year fixed 4.97%/1.69 pt 5.00%/1.65 pt 5.64%/1.77 pt Rates for loans over $322,700 30-year fixed 5.84%/1.53 pt 5.89%/1.36 pt 6.49%/1.34 pt 30-year ARM 3.17%/0.75 pt 3.15%/0.76 pt 4.14%/1.04 pt start rate 15-year fixed 5.24%/1.48 pt 5.28%/1.29 pt 6.04%/1.37 pt FHA or VA 6.17%/0.66 pt 6.21%/0.66 pt 6.75%/0.84 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 1.400% 1.400% 1.950% 1-year 1.410% 1.430% 2.060% Treasury bill 6-month 1.260% 1.260% 1.760% Treasury bill 6-month CD 1.330% 1.320% 1.870% 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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