Average Mortgage Rates and Indexes

Weekly survey of 60 Southland lenders as of May 22, 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 5.09%/1.46 pt 5.15%/1.51 pt 5.76%/1.61 pt 30-year ARM 2.79%/0.90 pt 2.81%/0.85 pt 3.08%/1.16 pt start rate 15-year fixed 4.53%/1.33 pt 4.56%/1.33 pt 6.17%/1.59 pt Rates for loans over $322,700 30-year fixed 5.39%/1.47 pt 5.41%/1.59 pt 6.03%/1.38 pt 30-year ARM 2.96%/0.79 pt 2.96%/0.82 pt 3.23%/0.87 pt start rate 15-year fixed 4.89%/1.37 pt 4.89%/1.26 pt 5.50%/1.34 pt FHA or VA 5.69%/0.75 pt 5.72%/0.81 pt 6.38%/0.33 pt mortgage Average / points CALVET 30-year 5.40%/0.00 pt 5.40%/0.00 pt 6.00%/0.00 pt 6-month LIBOR 1.220% 1.250% 1.480% 1-year 1.130% 1.200% 1.510% Treasury bill 6-month 1.070% 1.100% 1.270% Treasury bill 6-month CD 1.150% 1.170% 1.380% Prime rate 4.250% 4.250% 4.250% 11th District Mar. ’03 Feb. ’03 Sept. ’02 cost-of-funds 2.210% 2.257% 2.763%

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