Borrowers whose adjustable-rate mortgages change based on the Monthly Treasury Average got more bad news this month.
MTA, which is used as an index on some ARMs, finished July at 0.19833 percent, according to an analysis of Federal Reserve Board data by Mortgage Daily.
The index has not been as high as it was last month since October 2011, when it came in at 0.20750 percent.
In addition, it has increased each month since October 2014, when it was 0.11333 percent.
MTA was 0.18250 percent in June 2015 and 0.11667 in July 2014.
The index is a reflection of the daily average for the one-year Treasury yield each of the last 12 months.
In July, the daily average for the one-year Treasury yield was 0.30 percent.
A more widely used ARM index it the one-year Treasury yield, itself.
The one-year yield was 0.33 percent as of the end of July, climbing from 0.28 percent at the end of June, according to data from the Department of the Treasury.
The one-year Treasury yield closed at 0.33 percent on Monday.
Yet another ARM index, the London Interbank Offered Rate — or LIBOR — ended July at 0.47 percent, up from the end of June when it was 0.44 percent, Bankrate.com reported.
ARM share was
9.8 percent in the U.S. Mortgage Market Index report from OpenClose and Mortgage Daily for the week ended July 31.
