Mortgage Daily

Published On: April 5, 2006
MTA Hops Higher

4.0108% March index

April 5, 2006

By COCO SALAZAR

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

The MTA in March came in at 4.0108%, about 12 basis points above the previous month’s level, according to the Federal Reserve Statistical Release. A year earlier, the level was much lower at 2.3467%.

The MTA’s calculation is based on the 12-month average of the 1-year T-bill’s monthly average yield, which in March was 4.77%, the Fed said.

As of Tuesday, the yield on the 1-year T-bill reportedly stood at 4.85%.

The MTA competes with the 6-month LIBOR, the COFI and 1-year T-bill, which have all been on uninterrupted ascents, for adjustable rate mortgage applications, which the Mortgage Bankers Association said today comprise about 29% of total 1003s.


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

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