The record that was established in September for the Monthly Treasury Average was broken last month, and another new record is likely ahead.
At 0.13833 percent as of October, the MTA fell to the lowest level on record based on data from the Federal Reserve going back to 1953.
A month earlier, the index was 0.14333, a record-low at the time.
MTA has improved significantly from October 2012, when it came in at 0.16583 percent.
The index — which is used to determine rate and payment adjustments on some adjustable-rate mortgages — is calculated by averaging the daily average of the one-year Treasury yield for each of the past 12 months.
The daily average in October was 0.13833 percent.
The daily average would have to exceed 0.18 percent in November in order for the MTA to rise in the next report — and that doesn’t look too likely given that the yield on the one-year Treasury, itself, was only 0.9 percent at Monday’s close, according to data from the Department of Treasury.
The U.S. Mortgage Market Index report from LoanSifter and Mortgage Daily for the week ended Nov. 1 indicated that ARM share fell to 10.4 percent from 10.7 percent a week earlier.
