BOE Base Rate down by .25%

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mikebdomain

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Post by mikebdomain » Thu Feb 07, 2008 12:37 pm
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Bank of England Reduces Bank Rate by 0.25 Percentage Points to 5.25%
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size5

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Post by size5 » Thu Feb 07, 2008 12:56 pm
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Mike, is the LIBOR still high?
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mikebdomain

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Post by mikebdomain » Thu Feb 07, 2008 1:14 pm
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It depends on the lender and when they set their LIBOR rate

Most sub prime lenders will review their LIBOR rates 3 monthly, they will pick a date within the month at they will be setting LIBOR for the following 3 months.

The relationship between LIBOR and the BOE Base rate was pretty much broken with the onslaught of the credit crunch.

Lenders currently have LIBOR rate varying from 4.99% with Bristol & West to 6.37% with Advantage and up to 8.19% with TMB.
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