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Which index is better for an adjustable rate... Which index is better for an adjustable rate...
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Old 08-12-2007, 03:23 AM
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Default Which index is better for an adjustable rate...
...mortgage? My mortgage company was bought out by another one. They have sent me a letter which allows me to choose what my new rate to based on: the CODI (Certificates of Deposit Index), or the Wachovia COSI, which is their Cost of Savings Index.I can't find any information online which compares these indexes, so I have no idea which would be best. Does anyone have information about this, and how to make an informed decision?I am concerned that one or the other could wildly fluctuate separate from the market.
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Old 08-12-2007, 03:48 AM
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You could always call them and ask, but I myself would just flip a coin.
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Old 08-12-2007, 10:08 AM
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CODI is a better and more used benchmark.Go with that.
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Old 08-12-2007, 01:49 PM
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You need to get out of this and into a FIXED RATE mortgage ASAP. Variable rate mortgages are insane! Especially with rates at all time lows.REFINANCE into a FIFTEEN YEAR FIXED rate morgage. ASAP.
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