Quote:
Originally Posted by 911-32
Yes - but not Barclays and nothing to do with LIBOR or any type of trading, so no skin in this game.
Mortgages may be tied to LIBOR or a bank lending rate or some other benchmark. It all depends. Banks fund at LIBOR + margin so it make sense to lend at LIBOR + or some similar benchmark to minimise the basis risk.
You can see how rates spiked 06-08 until govt backed liquidity schemes came into play.
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So is it possible that consumers like myself have been ripped off?