Question:

What is 1-Month LIBOR index rate?

Answer:

The 1-Month LIBOR index rate is a standard index posted on the Wall Street. LIBOR stands for London InterBank Offered Rate - the interest rate that London banks use to extend money to one another. It is also a standard index used by the US financial market.

The Current 1-Month LIBOR Index Rate

As of May12, 2008, the 1-month London InterBank Offered Rate (LIBOR) index value fluctuates around 2.80%. In comparison, last year's value of the 1-month LIBOR index is almost twice the current one - around 5.30%.

The 1-month London InterBank Offered Rate (LIBOR) is a traditional ARM index - that is, there are many adjustable rate mortgage loans based on it. However, beside consumer mortgage credit, there are a number of financial corporate transactions also based on the 1-month LIBOR.

Beside the 1-month London InterBank Offered Rate (LIBOR) index, there are also 3-month, 6-month and 1-year LIBOR indexes, also very popular in the financial world. There are many LIBOR rates, reported every month in many currencies.

Recommended helpful present and future homeowners links:
Why: Refinance to a fixed rate loan while mortgage rates are still low.
Link:
Why: Because FHA loans are insured by the US Federal Government they have very competitive interest rates and are easier to qualify.
Link:
Why: Know and protect your credit report and score.
Link: See All 3 National Credit Scores & 3 Reports Instantly, Online & Free
Why: Find your next home and save money.
Link: Search thousands of foreclosures. Free 7-day trial.
Link this QnA Print del.icio.us Digg
Was this Mortgage QnA helpful?
Not at all
  • Currently 3/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
 Definitely
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA:

Common misspellings: mortage and morgage