It has been in excess of five years since the Monthly Treasury Average came in as high as it did during the first month of this year.
For the month of January, MTA was 0.35000 percent, according to an analysis of Federal Reserve Board data by Mortgage Daily.
The last time the index was this high was in August 2010, when it was determined to be 0.35333 percent. At the time — it was an all-time record low based on data back to 1953.
MTA was 0.32167 percent in December 2015 and 0.12750 percent in January 2015.
The index is calculated utilizing a daily average on the one-year Treasury note yield for each of the last 12 months.
In January 2016, the daily average for the one-year Treasury yield was 0.54 percent.
The one-year Treasury yield — which, itself,
is used as an index on many adjustable-rate mortgages — closed out January at 0.47 percent.
The one-year Treasury yield plunged from
0.65 percent at the end of December 2015.
In the week ended Jan. 29, ARM share was 9.7 percent in the U.S. Mortgage Market Index report from OpenClose and Mortgage Daily.
