An index that is used to set interest rate changes on some adjustable-rate mortgages has ascended again.
The MTA, which determines rate and payment adjustments on a small share of ARMs, was 0.13583 percent as of February.
In order to come up with the monthly index, Mortgage Daily analyzes Treasury market data published by the Federal Reserve Board.
The data indicate that MTA climbed from 0.12750 percent in January.
The index has risen each month since October, when it fell to the all-time low of 0.11333 percent.
In February 2014 , the index came in at 0.12500 percent — a record-low at the time.
MTA reflects the daily average for the one-year Treasury yield during each of the 12 most recent months. The daily average was 0.22 percent in February.
The more widely utilized one-year Treasury yield closed out last month at 0.22 percent, rising from 0.18 percent at the end of January, according to Treasury market data.
The one-year yield closed Monday at 0.22 percent.
ARM share was 8.9 percent in the final
Mortgage Market Index report for February, about the same as at the end of January.
