Mortgage Daily

Published On: July 5, 2006
MTA Elevates

4.4317% June average

July 5, 2006

By COCO SALAZAR

photo of Coco Salazar
In line with other major adjustable rate indexes, the Monthly Treasury Average jumped again.

In June, the MTA was 4.4317%, up about 15 basis points from May and 1.70% higher than the level in the comparable month a year prior, according to Federal Reserve Statistical Release data.

The MTA, which is the 12-month average of the 1-year T-bill’s monthly average yield, has been on the rise for 26 consecutive months now.

The 1-year T-bill stood at 5.26% as of Monday, the Fed said. The 1-year competes with the MTA for adjustable-rate loan applications, which reportedly comprise about 29% of total 1003s.

The 6-month LIBOR and the cost of funds index, which are also used as ARM indexes, are at 5-year highs.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.e-mail: MortgageWriter@aol.com

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