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Replies (1)
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:3369
Short term, next 6 months, it appears unlikely LIBOR will creep up, but beyond that is just guesswork. LIBOR rates tend to mirror our USA Prime Rate, so if and when it starts to increase, it will do so incrementally.
For example, from mid-04 to mid-06 LIBOR increased 4% over a 24 month period, all with incremental changes.
I would continue to aggressively pay down principal as best you can, to protect against future rate increases, and have an exit strategy in place for when you start to see the increases.
For example, from mid-04 to mid-06 LIBOR increased 4% over a 24 month period, all with incremental changes.
I would continue to aggressively pay down principal as best you can, to protect against future rate increases, and have an exit strategy in place for when you start to see the increases.
1 month Libor rate loan
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