Today's LIBOR Rates
| 1M | 0.22844 |  |
| 3M | 0.24969 |  |
| 6M | 0.38500 | |
| 1Y | 0.83750 | |
Average 30 Year Fixed Jumbo: 5.66% |
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November 23, 2009
According to Reuters, US Dollar LIBOR hit a new record low while Euro LIBOR moved higher. Anticipated actions by the currencies’ central banks triggered the respective movements of their LIBOR rates. LIBOR stands for London Interbank Offered Rate and is a filtered average of rates that banks charge each other for unsecured, short-term loans.
At press time, 3-Month US Dollar LIBOR sank to a historic low of 0.26188%. Comments released by the Federal Reserve on November 4 indicated a continuation of ultra-low federal funds rates, a policy that banks favor. Concurrently, 3-Month Euro LIBOR rose slightly to 0.67563%. Predicted moves by the European Central Bank (ECB) to taper off liquidity programs have created uncertainty in European financial institutions, reflected in higher LIBOR rates. In general, banks have enjoyed activist central bank policies of low interest rates and cash infusions.