Average mortgage rates and indexes

Weekly survey of 60 Southland lenders as of July 22, 2004

Compiled by National Financial News Services

*--* Latest week One week previous Six months previous Rates for loans up to $333,700: 30-year fixed 5.68%/1.71 pt. 5.69%/1.65 pt. 5.25%/1.54 pt. 30-year ARM 2.79%/0.53 pt. 3.10%/0.63 pt. 2.63%/1.31 pt. start rate 15-year fixed 5.03%/1.83 pt. 5.11%/1.56 pt. 4.50%/1.79 pt. Rates for loans over $333,700: 30-year fixed 5.93%/1.76 pt. 5.95%/1.51 pt. 5.54%/1.49 pt. 30-year ARM 2.83%/0.51 pt. 3.14%/0.61 pt. 2.73%/1.19 pt. start rate 15-year fixed 5.35%/1.71 pt. 5.38%/1.53 pt. 4.92%/1.72 pt. FHA or VA 6.15%/0.80 pt. 6.13%/0.75 pt. 5.97%/0.69 pt. mortgage Average / points CALVET 30-year 5.50%/0.00 pt. 5.50%/0.00 pt. 4.99%/0.00 pt. 6-month LIBOR 1.930% 1.860% 1.170% 1-year 2.120% 2.070% 1.200% Treasury bill 6-month 1.700% 1.680% 0.970% Treasury bill 6-month CD 1.860% 1.820% 1.100% Prime rate 4.250% 4.250% 4.000% 11th District May ’04 April ’04 Nov. ’03 cost-of-funds 1.708% 1.802% 1.821%

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