For the first time in almost two years, the Monthly Treasury Average has moved higher — though the rise was miniscule.
As of November, the MTA was 0.11417 percent, according to a Mortgage Daily analysis of Federal Reserve Board data.
The index, which is utilized to determine rate and payment changes on some adjustable-rate mortgages, moved up from the record-low 0.11333 percent established in October.
It was the first time that the MTA increased since January 2013, when the index stood at 0.17750 percent.
In November 2013, MTA was 0.13333 percent.
MTA is calculated based on the daily average of the one-year Treasury yield for each of the last 12 months. The average daily one-year Treasury yield was 0.13 percent in November.
A much more widely used ARM index is the one-year Treasury yield, itself. The one-year yield climbed to 0.13 percent as of the end of November from 0.11 percent at end October, according to the Department of the Treasury.
The one-year Treasury yield closed at 0.13 percent Monday.
ARM share was 11.4 percent in the U.S. Mortgage Market Index report from LoanSifter/Optimal Blue and Mortgage Daily for the week ended Nov. 28, widening from 11.1 percent one week earlier.
