ddc@arrow.UUCP (DD Choo) (12/20/85)
I just refinanced my mortgage loan on my house with the First Fidelity, gettting 1-yr ARM at the rate of 8.75 %. The adjustable rate is 2.5 above the 1-yr US Treasury Securities index. People at the bank said that it is probably published in Wall Street Journal on Wed., but I could not find it there. Does anybody know where and when the index is published?
pop@mtu.UUCP (Dave Poplawski) (12/24/85)
You can get this information, along with much, much more from
Publication #159 (H.15) - Selected Interest Rates and Bond Prices (weekly)
put out by the Federal Reserve system. It is free for the asking. Just
write to:
Publication Services
Board of Governers of the Federal Reserve System
Mail Stop 138
Washington D.C. 20551
They will send it to you every week. Last year they sent it to me for
about six months, then stopped. I don't know if this is their policy or if
they just forgot about me. Anyway, I asked for it again and have been
receiving it for about a month now.
As I said above, there is lots of information on a single sheet of paper.
Basically you get daily rates for the week, this weeks and last weeks
average, and the average for the month. Interest rates exist for federal
funds, commercial paper, CDs, treasury bills, corporate bonds, conventional
mortgages, etc. If your mortgage is like mine, you want to look at the
treasury constant maturities (1-year), this weeks average. The average for
the week Dec. 9 through Dec. 13 was 7.65.
--
Dave Poplawski
Michigan Technological University
uucp: {lanl, ihnp4, glacier}!mtu!pop
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