Adjustable Rate Mortgage Index
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The rate on your adjustable rate mortgage is determined by some market index. Many adjustable rate mortgages are tied to the LIBOR, Prime rate , Cost of Funds Index, or other index. The index your mortgage uses is a technicality, but it can affect how your payments change.
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Sources: The best site today, which has all the current indexes and extensive historical information, is http://www.mortgage-x.com/general/mortgage_indexes.asp.Some.
The British rate manipulation will affect people who have adjustable-rate mortgages tied to Libor (pronounced LIE-bore). In the fallout from the rate-fixing, the American mortgage industry will.
An adjustable rate mortgage (ARM), sometimes known as a variable-rate mortgage, is a home loan with an interest rate that adjusts over time to reflect market conditions. Once the initial fixed-period is completed, a lender will apply a new rate based on the index – the new benchmark interest rate – plus a set margin amount, to calculate the new.
Learn about adjustable rate mortgage indexes. ARM mortgages can be complicated – educate yourself about the index, margin, and caps on your ARM. HSH Associates, the nation’s largest publisher of mortgage information, tracks dozens of ARM indexes for use by servicers and others.
ARM Index Rates: Treasuries, Libor Rates, Prime Rate and other common ARM Indexes. If you have an Adjustable Rate Mortgage, your ARM is tied to an index which governs changes in your loan’s interest rate and, thus, your payments.
Variable Interest Rate Mortgage Mortgage Variable Rates – Visit our site if you want to reduce your monthly payments or shorten payments of your loan. We will help you to refinance your mortgage loan. Some borrowers often get a refinance rate home loan to modify the variable interest rates to fixed.
Monthly Interest Rate Survey (MIRS) The survey provides monthly information on interest rates, loan terms, and house prices by property type (all, new, previously occupied), by loan type (fixed- or adjustable-rate), and by lender type (savings associations, mortgage companies, commercial banks, and savings banks), as well as information on 15-year and 30-year fixed-rat e loans.
6 month LIBOR Adjustable Rate Mortgage Index history libor arms libor Six Month. LIBOR is an abbreviation for "London Interbank Offered Rate," and is the interest rate offered by a specific group of London banks for U.S. dollar deposits of a stated maturity.