Although the underlying yield on the one-year Treasury note has been lower lately, the Monthly Treasury Average still moved higher.
As of July 2016, the MTA was was 0.50750 percent based on a Mortgage Daily analysis of Federal Reserve Board data.
The index hasn’t been this high since October 2009, when it was 0.54417 percent. That was the lowest level on record at the time.
MTA
came in at 0.49000 percent in June 2016 and 0.19833 percent in July 2015.
The index is determined based on the daily average of the one-year Treasury yield for each of the most-recent 12
months.
Last month’s daily average was 0.51 percent, down from 0.55 percent in June.
The yield on the one-year Treasury note — a far more widely utilized index for adjustable-rate
mortgages –was 0.50 percent as of the end of July, rising from 0.45 percent at the end of June. But the one-year yield still remains well below where it’s been for much of the year — as high as 0.71 percent in March.
ARM share was
7.1 percent in the U.S. Mortgage Market Index from OpenClose and Mortgage Daily for the week ended July 29, fatter than 6.0 percent in the week-prior report.
