Here we go again, folks. The LIBOR ARM is on a roll. Everyone knows that fixed rate mortgages are at historical lows and millions of homeowners are saving money by refinancing. But as short-term rates continue to fall, the temptation of taking out an adjustable rate mortgage increases.
      It seems that the LIBOR ARM is the most attractive of the myriad of adjustable rates available. For those who are unfamiliar with the LIBOR, let me explain.
      LIBOR stands for London Interbank Offering Rate. Basically, the LIBOR is the interest rate that European financial institutions charge each other for funds. Many American lenders offer adjustable rate mortgages that are tied to the LIBOR index. This wouldn't normally be newsworthy - there are lots of different types of ARMs available. The thing that makes the LIBOR index interesting is that the One-Month LIBOR rate is hovering at about 1.38 percent. As far as adjustable rate indexes go, that's pretty low. And most LIBOR ARMs are offered without charging points. (One point is equal to one percent of the loan amount

     When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.
      It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded by enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right?
      But wait! Most top Realtors agree that taking your home off the market during the Christmas season is a mistake. The house surely isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things.