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For fast answers
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interest only loans,
and all other types
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For review, MTA or MAT is the acronym for monthly treasury average. It's a 12-month moving average of the
one-year constant maturity treasury index. The 12-month Treasury average (MTA or MAT) indexes: Rates on ARMs indexed to the 12-month average of the one-year Treasury bill are usually called the "12 MAT" or "12 MTA." Every month, the U.S. Treasury calculates and publishes the average yield on a constant-maturity one- year Treasury bill for the previous month. The 12 MAT index takes the average of the last 12 averages. Like the COFI and COSI, the rate on a 12 MAT is adjusted every month. Depending on the loan program, the monthly payment might be adjusted every month or once a year. |
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12 MAT, "Pick A Payment" mortgages are great refinance loans.
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Rates, indexed to the last 12 monthly averages for one-year Treasuries, move slowly. If interest rates were to
go up 1 percentage point ... the 12 MAT index would only go up one-twelfth of 1 percent the next month. And then the second twelfth the next month, and so on. The 12 MAT index reacts slowly to fluctuations in short- term rates and smoothes them out. |
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The MTA is just one of several indices the 12 MAT loan can be priced on. Other popuar indices are the
COFI, COSI, CODI and Libor. Regardless of which index the Pick A Payment mortgage is tied to, it's still popularly referred to as a 12 MAT loan. At Mortgage Match, we recommend the COSI index... historically, it's the slowest moving of all the indices, and when it does move, it's moved in the smallest increments. |
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The 12 MAT, Pick A Payment loan does give the borrower 4 payment choices every month, (to review those
choices again, go back here) and it does offer a high, maximum, LTV ratio of 95%. So, many borrowers will find they can pay off their existing loan, and get cash out at the same time while enjoying the low rates, flexibility and control this loan offers. |
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Mortgages can be refinanced using the 12
MAT, Pick A Payment loan. It offers excellent flexibility, lower payments, greater control over your finances, and a whole lot more. |
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To learn more about refinancing mortgages, and the issues worth considering when you do refinance
a mortgage loan, please click here for answers to frequently asked refinance questions. |
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Getting started on your mortgage refinancing...
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The Mortgage Match online inquiry form is so simple you can complete it in less than a minute.
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Take 1 minute to provide some information, and we'll contact you for your custom mortgage rate
quote. And, to help you determine which refinancing option is best for you. |
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The information you provide to Mortgage Match will be used to fulfill your request. Mortgage Match
does not share your information with third parties or outside companies for their promotional use. |
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For further information about 12 MAT, Pick-A-Payment mortgages, please see this page.
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For even more info on 12 MAT mortgages...
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