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Freddie is Making the Switch to The Secured Overnight Financing Rate (SOFR)
Dec 18 2020, 8:55AM
Freddie Mac is touting its readiness
to transition from using the
London Interbank Offered Rate or LIBOR to the Secured
Overnight Financing Rate (SOFR) as a mortgage reference index. The end date for
LIBOR may be extended (yet again) from the end of 2021 to mid-2023, but Freddie
Mac says it remains committed to prepare for a final transition as soon as
possible.
SOFR, which was specifically
developed to replace LIBOR, is a broad measure of the cost of borrowing cash
overnight collateralized by Treasury securities.
Because, unlike LIBOR, it is ....

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