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1-Year
LIBOR |
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LIBOR stands for the London Interbank
Offered Rate and is the rate of interest at which banks
borrow funds from each other, in marketable size, in the
London interbank market. |
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LIBOR is the primary benchmark for short term interest rates
globally. It is used as the basis for settlement of
interest rate contracts on many of the world's major futures
and options exchanges (including LIFFE, Deutsche Term Börse,
Chicago Mercantile Exchange, Chicago Board of Trade, SIMEX
and TIFFE) as well as most Over the Counter (OTC) and
lending transactions. |
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There are several different LIBOR rates
widely used as ARM indexes: 1-, 3-, 6-Month, and 1-Year
LIBOR. The 6-Month LIBOR is the most common. |
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BancGROUPTM Mortgage
Corporation is an Equal Housing Lender and California, Colorado (MB100017881), Illinois, Indiana,
Wisconsin and Florida Residential Mortgage Licensee