With the recent rally in the Treasury market, the Monthly Treasury Average moved lower and is already well on its way to another decline this month.
The MTA, which is used as an index to determine rate and payment changes on some adjustable-rate mortgages, was 0.16917 percent in April.
The latest level for the index was a decline from the previous month, when it was 0.17417 percent.
But MTA was higher than the all-time low of 0.14667 percent reached in April 2012.
The ARM index is determined based on the daily average of the one-year Treasury yield for the last 12 months.
The daily average during April was 0.12 percent, according to data published by the Federal Reserve Board.
The daily average for the yield on the one-year Treasury note could fall even further based on recent Treasury market activity, with the one-year Treasury yield closing at 0.11 percent for each of the past five days, according to data from the Department of the Treasury.
ARM share was 4.5 percent in the U.S. Mortgage Market Index report from LoanSifter and Mortgage Daily for the week ended May 3.
