A “LIBOR ARM” sounds vaguely related to a frozen shoulder. It’s not. Pronounced “Lee′-bore,” it stands for the “London Inter-bank Offered Rate,” a widely used benchmark (or peg) for setting mortgage rates and other debt. Meanwhile, “ARM” stands for “Adjustable Rate Mortgage.” Definition, Please What does all that mean in practice? A homeowner with a...Read More
Defining the Denominator One of the more useful (ballpark) benchmarks for determining a home’s likely selling price these days is what Realtors call “sales price as a percentage of list (or asking) price.” Depending on what part of the Twin Cities you’re talking about (and what price point), the number that’s out there at the moment is...Read More
