May LIBOR Rate Check

I just checked what the LIBOR rate is currently. As of today it's 1.21263. It's a bit higher than previous months. However, when you add 2.25 to that rate you get 3.46. Round that to the nearest 1/8th percent and you get 3.5%. An interest rate of 3.5% is none too shabby! I'll keep checking. The middle of July (around the 18th) is the rate of interest and will be what our new mortgage rate will reset to on September 1st. So far, so good!