What's a Libore Loan, please?

LIBOR, or the London Interbank Offered Rate, is a measure of the current interest rate attached to interbank loans.LIBOR's original definition exclusively relates to the relationships between global banks, however, many banks, credit unions and lenders set their interest accoring to the LIBOR rate. Here is a good explanation of LIBOR...https://pocketsense.com/libor-loan-7479727.htmlIf you are looking for a mortgage home loan, give me a call. I can give you information on the types of loans that would make the most sense for your situation. Linda Miller - 801.550.1222.

Timothy E. HowardCall me at 435-764-8709Email me: Thoward@NEXaMortgage.comWebSite" UtahsMortgageLender.comHere is what the Libor is about.The London Inter-bank Offered Rate is an interest-rate average calculated from estimates submitted by the leading banks in London. Each bank estimates what it would be charged were it to borrow from other banks. The resulting rate is usually abbreviated to Libor (/'la?b?:r/) or LIBOR, or more officially to ICE LIBOR (for Intercontinental Exchange Libor). It was formerly known as BBA Libor (for British Bankers' Association Libor or the trademark bba libor) before the responsibility for the administration was transferred to Intercontinental Exchange. It is the primary benchmark, along with the Euribor, for short-term interest rates around the world. However, Libor will not be published any more after end-2021, and market participants are strongly encouraged to transition to other risk-free rates.