Indexes and interest rates
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If you are currently exploring the options of an ARM, adjustable rate mortgage, or even already have one youve probably heard of an index which affects your interest rate.There are many indexes which are utilized by certain programs and each affect your interest rate differently. Some are more volatile while some appear to be more stable.
One common index used in the mortgage industry is the LIBOR rate. This is the London InterBank Offered Rate and can be found on most financial websites.
Another widely used index is the MTA Index or The Monthly Treasury Average, also known as 12-Month Moving Average Treasury index (MAT). This index has shown a little more price stability recently than the LIBOR index.
Another index is the COSI, or Cost of Savings Index. This index is also quite stable with very low volatility.