I have a 5/1 ARM tied to the libor index, but my statement says index: 1 yr libor (75). Whats the (75)? - libor index
My margin of 2.875% I'm trying to understand just what my record is (and how often) in my 5 years to calculate if I refi. I think (75) is about 75% of LIBOR or -. 75 points.
Monday, January 18, 2010
Libor Index I Have A 5/1 ARM Tied To The Libor Index, But My Statement Says Index: 1 Yr Libor (75). Whats The (75)?
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The 1-year LIBOR rate is 3.26%
ReplyDeleteYou pay 88 percent of them, which is so unlikely.
You may need to contact your lender to solve this mystery.