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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (96115)	12/3/2007 3:47:21 PM
From: Sr K	Read Replies (2) \| Respond to of 306849

typically when they quote, they say "LIBOR". When you ask which LIBOR, they are puzzled. Dollar LIBOR? What maturity? Still puzzled. B of A and others use 6 month U.S. Dollar LIBOR and some use 3 month AFAIK. It takes effort to find out the actual index, as if it doesn't make any difference and all that counts is the payment amount. It's like a car loan. They want to figure out what monthly payment you are qualified for and then get you into a loan that is under that payment amount.