Industry NewsMortgage

Bank fears pushing ARM rates up

Rise in LIBOR will cost homeowners
Published on Oct 10, 2008

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by CareyBot

The value of stocks traded on global exchanges has plummeted by an estimated $25 trillion this year, but the bigger worry for many analysts is the continuing fear banks have about lending money to each other.

A telling indicator of those fears is the rise in the London Interbank Offered Rate, or LIBOR, which tracks the rates banks charge each other for loans in 10 currencies for durations ranging from overnight to 12 months.

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