LIBOR Index – Why Does it Affect My Adjustable Rate Mortgage Payments?

If you are a homeowner who purchased your home with an Adjustable Rate Mortgage, you might wonder why your mortgage lender adjusts your interest rate based on the LIBOR index. What exactly is the LIBOR index? LIBOR stands for the London InterBank Offered Rate and is pronounced LIE-bore. The index is based on interest rates […]

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