Libor Loosens Up: Why You Should Care

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I agree. This is not good and I wish at some point the stimulus package that the knuckle heads decide on will trigger the things that will impact us the most. Guess what, if adjustables are the issue then do the things that will impact the adjustables not the long term fixed rates because that is not the problem. But if they can at the same time stabalize the fixed rates, then where they are at this present time is still pretty awesome. I also have an adjustable rate and unfortunately could not get my mortgage company on the phone to complain about the fact that they increased my payment by more than 2% in one year when it should only have had a cap of 2 per year.
If they really had a clue and spread the bailout funds appropriately with the right business economic analysts they could hedge risks, stabalize the economy and inject action in the american public pretty easily. But they are too greedy and too Political. Both sides of the fence. Not just one.

Tosh of NC 2:05PM October 17, 2008

I just received a letter from EverHome Mortgage today increasing my 5/1 ARM from 4.875% to 6.25% based on libor increasing from 2.61430 a month ago to 3.98120 on Oct 1. This dramatically increases my payment on the 500,000 loan. More pain and foreclosures are ahead in the US if LIBOR is not lowered.

Derek of MA 2:24AM October 16, 2008

Lower the LIBOR and people will be able to afford their adjustable rate mortgages -- if the LIBOR goes higher things are going to get worse-- no matter what the government does.

Diane of MA 10:56PM October 15, 2008

This LIBOR is the needle that will break the camel's back or make real estate here in the US recover. People and the governments don't realize how important this rate is for the future of Real Estate.

Sean of FL 5:21PM October 15, 2008