As predicted last month by this publication, the Monthly Treasury Average declined to a new low. The index is likely to set at least one more record.
The MTA was 0.34167 percent in September, according to an analysis of data reported by the Federal Reserve. It was the lowest level on record based on data going back to 1953.
The index, which is used to determine rate movements on some adjustable-rate mortgages, was 0.35333 in August and 0.63167 percent in September 2009.
MTAÂ reflects the daily average of the one-year Treasury yield for each month during the past year.
The one-year yield had a daily average of 0.26 percent in September.
The yield on the one-year Treasury closed today at 0.26 percent. If the one-year continues to carry a yield of around 0.26 percent, the MTA will see a new record this month.
