Answers (1)
- Paul Mondello, "Paul Mondello"
- Contributions:2390
Veronika
Who knows for sure, but it looks like the 1 year Libor index is currently trending higher Historic Libor
What you are naming your 'points' is likely more commonly know as the margin. As of today, one year libor index is 1.196. If your loan adjusted today, your rate would be 3.45%, which, according to your post, would default to 3.5%. Take your proposed loan amount and punch it onto a mortgage calculator to figure out the monthly payment.
Who knows for sure, but it looks like the 1 year Libor index is currently trending higher Historic Libor
What you are naming your 'points' is likely more commonly know as the margin. As of today, one year libor index is 1.196. If your loan adjusted today, your rate would be 3.45%, which, according to your post, would default to 3.5%. Take your proposed loan amount and punch it onto a mortgage calculator to figure out the monthly payment.
Adjustable interest rate and payment
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