Definition of Libor Rate

LIBOR is the London Interbank Offered Rate. It is a daily reference rate based on the interest rates banks in the London wholesale money market (or interbank market) offer to lend unsecured funds to each other. LIBOR is usually slightly higher than the London Interbank Bid Rate (LIBID). LIBID is the rate the same banks are prepared to accept deposits.

With the 1 year LIBOR Rate currently at 2.77%, there is not a big hurry to refinance "reasonable" ARMS now.

Web Page of "Current Libor Rates"

Make sure you read our survey of the best mortage rates.

LIBOR and other interest rate indexes as of 2/13/2008

LIBOR and other interest rate indexes as of 2/13/2008

	This week	Month ago	Year ago
Bond Buyer's 20 bond index	4.33	4.21	4.21
FNMA 30 yr Mtg Com del 60 days	5.64	5.53	6.22
1 Month LIBOR Rate	3.13	4.02	5.32
3 Month LIBOR Rate	3.07	4.00	5.36
6 Month LIBOR Rate	2.96	3.83	5.40
Call Money	4.75	6.00	7.00
1 Year LIBOR Rate	2.78	3.72	5.40

Call Money Rates are the interest rate charged by banks to brokers for money used to finance margin loans, usually to stock market investors.