What The Hell is a LIBOR?

by Alex Stenback on January 31, 2005

Liger_hobbsatrest LIGER – Napoleon Dynamite’s favorite animal. 

Libor LIBOR – London Interbank Offered Rate

Even though Napoleon Dynamite was funnier before every thirteen year-old on the planet was quoting it, we found a way to work it into this post.  It wasn’t easy.

Lame attempts at humor aside, the LIBOR indexed Adjustable Rate Mortgages are gaining in popularity.  They normally have slightly lower start rates than the more traditional Treasury-indexed ARM’s, and they often carry the increasingly popular interest-only payment option.  Here’s a couple more links to help you read up on LIBOR arms:

More on the LIBOR here from today’s Houston Business Journal [Bizjournals.com]
LIBOR Index [HSH.com}

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