LIBOR rates

marvin

Hello
Can someone help me with working out what rate LIBOR + 2.15% would be?
I keep hearing LIBOR is stubbornly high but he best I can find is that LIBOR + 2.15% would be around 4.95% (3 month LIBOR from <http://www.bankrate.com/brm/ratewatch/other-indices.asp> )
Is this right? If so its a better rate than I got 2 years ago (Preferred mortgages)
Can any of the IFA's tell me what Preferred current rate is?

I have a fixed rate coming to an end in December just trying to keep on top of it.

(BTW its sub prime because its an ex council house not made of bricks but wood and spit!)

ManAtHome

Dunno where you saw LIBOR at 2.8% - been over 5% for a long long time...

Rates here http://www.economagic.com/em-cgi/PW_MChartOmni.exe/save:economagic!LiborUK1m3m6m12m

[edit] checked out the link so I now know where you saw the rates... I think these are seriously wrong (although the 1 year ago look reasonable), any other banky peeps care to comment..?

Tiddler_2

LIBOR rate for today can be found here

http://www.swap-rates.com/Libor.html

Just click on the date and look at the 3 month LIBOR rate currently around 5.77% so 2.15% above = 7.92%

However Preferred Mortgages rates are usually set at or around the 1st of March, June, Sept & Dec. The last rate was set at 1st June at 5.87%.

Preferred Mortgages customer admin is done via Capstone Mortgages

http://www.capstonemortgageservices.co.uk/capstone/sitedocs/libor.aspx

marvin

Thanks one and all, I knew that LIBOR rate had to be nonsense.