In what has become a routine, recurring headline, the Monthly Treasury Average declined to the lowest level ever recorded.
Treasury market data released by the Federal Reserve Board indicate that during April, MTA was 0.12250 percent.
A review of the oldest available Fed data back to 1953 indicates that MTA has never been this low.
MTA, which is used as an index on some adjustable-rate mortgages, slipped from 0.12333 percent a month earlier.
A year earlier, the index was 0.16917 percent.
MTA reflects the daily average one-year Treasury yield for each of the most recent 12 months. During April, the daily average was 0.11 percent.
Most ARMs utilize the one-year Treasury yield as the index. The one-year yield fell to 0.11 percent at the end of April from 0.13 percent at the end of March, according to Treasury Department data.
The one-year yield closed at 0.11 percent on Monday.
ARM share fell to 12.9 percent in the latest Mortgage Market Index report from 13.1 percent the previous week.
