6-Month Libor ARM

• London Inter Bank Offering Rate (LIBOR) is an average of the interest rate on dollar-denominated deposits, also known as Eurodollars, traded between banks in London.
  
• The 6-month is the most common LIBOR, however there are also 1 and 3 month LIBORs as well as a 1-Year LIBOR.
  
• LIBOR-indexed ARMs offer borrowers aggressive initial rates (lower than many other ARMs).