Why LIBOR Will Not Impact Your Adjustable Rate Mortgage This Year

LIBOR (Lie'-boor): 1. The variable in most people's "What's my mortgage adjusting to" mortgage rate formula; 2. Media darling now that writers are wondering from where the next big mortgage problem will originate. Despite what you may hear in the news, LIBOR's rapid ascent will not have a major bearing on your adjustable-rate mortgage and your ability to repay your lender-- at least not this year. That's because all adjustable-rate mortgages have very clear rules by which they can adjust....