The LIBOR is among the most common of benchmark interest rate indexes used to make adjustments to adjustable rate mortgages.
Watch out for choking credit markets, as the financial crisis spreads from the U.S. to European stock markets causing a domino effect throughout the financial world.
Over the weekend, Germany implemented a bailout of its own, injecting €50 billion to help out struggling Hypo Real Estate bank, the nation’s Financy Ministry said.
Nevertheless as banks in Europe struggle, the European Central Bank has maintained its key lending rate. That tells me the Euro will be the strongest currency in the world and the one to invest in.
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The 3-month Libor rate seems to be getting higher as the global credit crunch tightens on national banks throughout the world.
www.PaulFDavis.com – author, worldwide speaker, and consultant