More than 6-Year High for MTA

Despite declines in another adjustable-rate mortgage index, the Monthly Treasury Average rose to a level not seen in more than six years.

An analysis of Federal Reserve Board data by Mortgage Daily determined the MTA to be 2 basis points less during June than a month earlier.

Historical data from the Fed indicate that the index has not been as high as it was as of last month since October 2009 — a record-low at the time.

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From:: Financing