New Record Low for LIBOR Rate
May 22nd, 2009 by 
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The Libor rate which is used by banks and building societes as the interest rate charged when they lend money to each other has fallen to a new record low.
The Libor rate for sterling for fell to 1.30% and the Dollar LIBOR Rate reduced to just 0.66%.
These are the rates which determines the cost of mortgages and other forms of borrowing. The rate coming down may bring good news in that interest rates on mortgages and other loans may follow suit.
Posted in Mortgage news | 
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