Definitions for "LIBOR rate"
The London Inter Bank Offered Rate, or LIBOR rate, is the averaged rate of interest at which UK banks loan wholesale to one another. This rate is referenced widely to set interest rates both in and out of Britain.
The acronym LIBOR stands for London Interbank Offered Rate. It is a money market index with an international flavor, which is a floating interest rate that serves as a base for many lending agreements. In recent years, homebuyers have been encountering ARMs (Adjustable Rate Mortgages) with interest rates linked to, for example, the 6-month LIBOR rate.
(London Inter Bank Offer rate) - The rate at which Banks lend money to themselves. Could be considered more stable than Bank Base Rate as Lenders set it for 3 months at a time.