Mortgage Daily

Published On: June 2, 2006
MTA Moves Higher

May average 4.2817%

June 2, 2006

By COCO SALAZAR

photo of Coco Salazar
The Monthly Treasury Average moved up for the 25th consecutive month.

The MTA came in at 4.2817% in May, rising about 14 basis points from April’s level, according to Federal Reserve data. In the same month a year earlier, the figure was 2.6333%.

Each month since April 2004, the MTA has increased.

The MTA is the 12-month average of the 1-year T-bill’s monthly average yield. The rate was reportedly 5.0% in May and competes for adjustable-rate mortgage applications — which currently account for less than a third of all 1003s, according to Mortgage Bankers Association data.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.e-mail: [email protected]

 

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