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Alternatives to Libor in Consumer Mortgages
Federal Reserve Bank of Cleveland. Economic Commentary
Many adjustable rate mortgages in the United States are indexed to Libor. While the accuracy of this rate has recently been called into question, another issue affecting U.S. borrowers has become evident since the onset of the financial crisis. Specifically, many U.S. consumers with Libor-based loans may have been hit with substantially higher payments when their loans reset during the financial crisis than if those loans had been tied to a Treasury rate. We investigate several alternativedoi:10.26509/frbc-ec-201214 fatcat:hjztddzjvnapzmlhff4jlkvdea