Average Mortgage Rates and Indexes

Weekly survey of 60 Southland lenders as of May 15, 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 5.15%/1.51 pt 5.19%/1.54 pt 5.73%/1.57 pt 30-year ARM 2.81%/0.85 pt 2.79%/0.90 pt 3.17%/0.99 pt start rate 15-year fixed 4.56%/1.33 pt 4.58%/1.39 pt 5.01%/1.65 pt Rates for loans over $322,700 30-year fixed 5.41%/1.59 pt 5.42%/1.56 pt 6.02%/1.39 pt 30-year ARM 2.96%/0.82 pt 2.95%/0.82 pt 3.37%/0.76 pt start rate 15-year fixed 4.89%/1.26 pt 4.92%/1.19 pt 5.41%/1.34 pt FHA or VA 5.72%/0.81 pt 5.75%/0.81 pt 6.19%/0.37 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 1.250% 1.260% 1.450% 1-year 1.200% 1.230% 1.460% Treasury bill 6-month 1.100% 1.140% 1.330% Treasury bill 6-month CD 1.170% 1.210% 1.360% 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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