Many types of adjustable rate mortgage loans are indexed to the CMT Index
(constant maturity of U.S. treasuries). Below is a chart of CMT rates for
the last 10 years. CMT residential mortgage loans normally have 2.75% margin rate.
Both CMT and LIBOR are faster moving the the 12 MTA index.
1 Year CMT Index The CMT Index is based on the weekly average yield of
the United States Treasury securities, adjusted to a constant maturity
of 1 year, as made available by the Federal Reserve. The CMT Index is
based on yields published in the release entitled the "Selected Interest
Rates H-15" which is published weekly by the Federal Reserve Board.
This website is not a solicitation for
mortgage brokers
Rates vary with geographic location
APR is abbreviation for annual percentage rate
Rates change frequently and these rates may not reflect the latest market
conditions
Expressed interest rate may change or be unavailable at commitment or
closing
Most rates based on primary residence, purchase transaction
Cash out refinance rates may be slightly higher
Some loans may have pre-payment penalties
Rates on some programs may require higher down payments
This is only a brief summary of rates and programs and possible fees, call
for additional information on underwriting requirements
and program limitations. Guidlines posted here are general in nature
and subject to change without notice.
Rates must be locked by phone or in person.
Mortgage calculators are believed to be accurate but results are not
guaranteed
All information published on this web site is believed to be accurate but
cannot be guaranteed, errors may occur
This site has been built and is maintained by Bill Meyers
Bill Meyers is employed as a mortgage loan consultant for one of the
nation's largest residential lenders. Bill works as an employee and
not a mortgage broker. This is Bill's personal web site and not
the official web site of any bank or mortgage company.
Please consider all information posted on this site to be general in nature
and representative of mortgage rates and policies that may be available from
various sources. Bill is located in Naples Florida. Bill can be
reached on his cell phone at 239-566-8484 or toll free at
877-994-9589. Please call for additional information.
1-Year CMT Index