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Patti  Fisher, Other/Just Looking in San Diego, CA

what index are FHA rates tied to?

Asked by Patti Fisher, San Diego, CA Mon Apr 21, 2008

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Hi Patti,

Changes in the interest rate charged on an ARM must correspond to changes in the weekly average yield on United States Treasury securities adjusted to a constant maturity of one year, or equivalent, as provided by the Department of the Treasury and found on the Federal Reserve Statistical Release H.15, Selected Interest Rates website at: http://www.federalreserve.gov/releases. Except as otherwise provided in this Mortgagee Letter, each change in the mortgage interest rate must correspond to the upward or downward change in this index.

I took this from the FHA guidelines...ML 2004-10.

Elva Wormley
Branch Manager
(408) 467-0500
Allied Home Mortgage Capital Corporation
0 votes Thank Flag Link Mon Apr 21, 2008
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