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ADJUSTABLE RATE NOTE (1 Year Treasury Index Rate Caps)THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY ADJUSTABLE INTEREST
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The 1 year Treasury Index is a commonly used index for adjustable rate mortgages (ARMs) that is based on the yield of U.S. Treasury securities with a 1 year maturity.
Financial institutions and lenders who offer adjustable rate mortgages (ARMs) are required to file the 1 year Treasury Index.
To fill out the 1 year Treasury Index, financial institutions and lenders must input the current yield of U.S. Treasury securities with a 1 year maturity.
The purpose of the 1 year Treasury Index is to serve as a benchmark for determining the interest rates on adjustable rate mortgages (ARMs).
The 1 year Treasury Index must include the current yield of U.S. Treasury securities with a 1 year maturity.
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