What is the 3 month libor rate
LIBOR-indexed ARMs offer borrowers aggressive initial rates (lower than many other ARMs) and has proved to be competitive with such popular ARM indexes as the 11th District Cost of Funds. the 6-Month Treasury Bill. and the 6-Month Certificate of Deposit. With the LIBOR ARMs borrowers are generally protected from wide fluctuations in interest rates by periodic and lifetime interest rate caps. LIBOR ARMs usually do not have negative amortization .
Historical Data: Mortgage-X compiles historical values for the indexes which are widely used on adjustable rate mortgages (ARMs). Click here for a history of the LIBOR index .
Mortgage Professionals Offering LIBOR-indexed Loans: If you are looking for a LIBOR-indexed ARM and need more information or advice, we invite you to take advantage of our database of the
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Note: Besides the WSJ LIBOR as published in the Wall Street Journal* lenders may use the monthly FNMA LIBOR or a replacement index, since the original Fannie Mae LIBOR index has been discontinued* and has only historical values. So if your ARM is based on a LIBOR, the loan must specify which one is being used.
* The LIBOR (WSJ LIBOR) quoted in the Wall Street Journal (print edition) is the LIBOR posted by the British Bankers' Association (BBA). Each day the Wall Street Journal publishes yesterday's BBA LIBOR rate as part of the Money Rates table in the Money and Investing Section.Source: mortgage-x.com