Posted in Certificate of Deposit Index
A matrix of prices used to determine the changes in the interest rates of rate adjusted mortgages. In general terms, it is the average of what banks are paying for CDs. The certificate of deposit index is not as volatile as other mortgage indices and is usually dependent on changes to the general interest rate. The index is also used as a benchmark for negotiable certificates of deposit. CODI is only one of several indeces that the borrower can use over its mortgage value. See more about certificate of deposit interest rates.
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