A new low was established for the Monthly Treasury Average last month, and another record is likely ahead.
In January, the MTA came in at 0.12833 percent, according to an analysis of Federal Reserve Board data.
That was the lowest level ever based on Fed data going back to 1953.
A month earlier, the index was 0.13083 percent, while it was 0.17750 percent in the same month a year earlier.
MTA is calculated based on the daily average of the one-year Treasury yield for each of the last 12 months.
In January, the daily average was 0.12 percent.
Unless February’s daily average jumps to 0.16 percent, a new MTA record will be set this month.
The yield on the one-year Treasury note, itself, closed at 0.11 percent Monday, according to Treasury Department data.
Both the MTA and the one-year Treasury yield are used to determine changes on adjustable-rate mortgages, which accounted for 12.7 percent of all activity in the U.S. Mortgage Market Index from LoanSifter and Mortgage Daily report for the week ended Jan. 31, 2014.