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The Fed didn't make a move at the March meeting, but what the Fed had to say about future policy has implications for mortgage rates.

The Fed didn't make a move at the March meeting, but what the Fed had to say about future policy has implications for mortgage rates.

ARM Indexes: Monthly Treasury Securities / Constant Maturities

Treasury Securities ("T-Secs", also known as TCM, or CMT, or T-Sec) values are calculated by the Treasury Department and reported by the Federal Reserve in Publication H.15.  Below, you will find current and historical monthly yields for 3 month, 6 month Treasuries, as well as values for 1-, 2-, 3-, 5-, 7-, 10-, 20-, and 30 year treasuries.

The official name of this index is "Monthly Average Yield on U.S. Treasury Securities Adjusted to a Constant Maturity of (number) Years" (or "six months", or "2 years", etc.). Confusion can arise when lenders use the term "One Year Treasury Bill"; the 52-week bill is a totally different index, and rarely used on ARMs.

Treasuries have both monthly and weekly values; for ARMs, the weekly value is most often used. Monthly values are rarely employed, excepting where a Moving Treasury Average (MTA, aka 12-Mat) is used. If you think your ARM is tied to a monthly value, you'll want to check your check your mortgage Note or Adjustable Rate Rider for specific details.

However, monthly values are excellent for tracking changes in interest rates and make great companion series for many other economic indicators. Need weekly treasury index values instead?

L O A D I N G

ARM Indexes: Monthly Treasury Securities / Constant Maturities from February 2023 to February 2024

Date 3-Month TCM 6-Month TCM 1-Year TCM
Feb-2024 5.44000 5.28000 4.92000
Jan-2024 5.45000 5.21000 4.79000
Dec-2023 5.44000 5.34000 4.96000
Nov-2023 5.52000 5.44000 5.28000
Oct-2023 5.60000 5.57000 5.42000
Sep-2023 5.56000 5.51000 5.44000
Aug-2023 5.56000 5.54000 5.37000
Jul-2023 5.49000 5.53000 5.37000
Jun-2023 5.42000 5.42000 5.24000
May-2023 5.31000 5.27000 4.91000
Apr-2023 5.07000 4.99000 4.68000
Mar-2023 4.86000 4.99000 4.68000
Feb-2023 4.79000 4.97000 4.93000

3-Month TCM
6-Month TCM
1-Year TCM

More ARM Indexes & Info

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