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Our guiding principle: Envision Mortgage Solutions thrives only on honesty, on honor, on the sacredness of obligations, on faithful dedication to our clients and colleagues, and on unselfish performance. Without them, it cannot live. |
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Envision Mortgage Solutions is an Illinois Residential Mortgage Licensee and a local Chicagoland company to provide personal service: Crestwood Office
4731 Midlothian Tpke #32
[contact us] [directions]Crestwood, IL 60445 [708] 597-8884
Licensed with the Illinois Department of Banks & Real Estate # MB.6759105 and is a member in good standing with the Illinois Association of Mortgage Brokers www.iamb.org, the National Assoc. of Mortgage Brokers, and the Illinois Secretary of State. |
LIBOR is the rate on dollar-denominated deposits, also know as Eurodollars, traded
between banks in London. The index is quoted for one month, three months, six
months as well as one-year periods.
LIBOR is the base interest rate paid on deposits between banks in the Eurodollar
market. A Eurodollar is a dollar deposited in a bank in a country where the
currency is not the dollar. The Eurodollar market has been around for over 40
years and is a major component of the International financial market. London is
the center of the Euromarket in terms of volume.
The LIBOR rate quoted in the Wall Street Journal is an average of rate quotes from
five major banks. Bank of America, Barclays, Bank of Tokyo, Deutsche Bank and
Swiss Bank.
The most common quote for mortgages is the 6-month quote. LIBOR's cost of money is a
widely monitored international interest rate indicator. LIBOR is currently
being used by both Fannie Mae and Freddie Mac as an index on the loans they
purchase.
LIBOR is quoted daily in the Wall Street Journal's Money Rates and compares most closely to the 1-Year Treasury Security index.
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