3-Month Libor 4.50% down 0.05

3-Month Libor 4.50% down 0.05 : The Libor was at 2.90% in June. Libor, the London Interbank Offered Rate, is what banks charge one another for short-term loans. It is the basis for many financial contracts- including home mortgages and student loans, and it is a sign of whether banks trust each other. High rates mean banks are less willing to lend money to one another. Sources; The New York Times, Bloomberg, Federal Reserve. Paul Foster

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