After establishing a new all-time low each of the prior 12 months, the news is that the Monthly Treasury Average failed to set a new record last month.
Better known by its acronym, MTA, the index was 0.11500 in September, according to a Mortgage Daily analysis of Federal Reserve Board data.
The index is determined based on the daily average one-year Treasury yield for each of the last 12 months.
The daily average was 0.11 percent in September.
A much broader share of adjustable-rate mortgages utilize the one-year Treasury yield as the index to determine changes to rates and payments.
The one-year yield leapt from 0.09 percent at the end of August to 0.13 percent as of month-end September, according to Department of the Treasury data.
But the one-year yield has since retreated to 0.11 percent as of Friday.
ARM share was 12.3 percent in the week ended Oct. 3, according to the U.S. Mortgage Market Index report from LoanSifter/Optimal Blue and Mortgage Daily. ARM share widened from 11.9 percent in the previous report.