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  What Is MIBOR - The Mumbai Interbank Offered Rate? MIBOR stands for  Mumbai Interbank Offered Rate (MIBOR)  it is one iteration of India’s interbank rate.  A bank charges this rate of interest on a short-term loan to another bank.  As the development of financial markets continues in India, it felt it needed a reference rate for its debt market, leading to the development and introduction of the MIBOR.  The central bank of India uses MIBOR in conjunction with the Mumbai interbank bid and forward rates (MIBID and MIFOR) to set short-term monetary policy. Understanding the Mumbai Interbank Offered Rate On the interbank market, the banks borrow and lend money to one another for maintaining appropriate, legal liquidity levels, and to reach up to the reserve requirements placed on them by regulators.  Only the largest and most creditworthy financial institutions can avail these interbank rates. Every day the  National Stock Exchange of India  (NSEIL) calculates MIBOR as a weighted average

About Mortgage Lenders When we go ahead with the  home buying process  it is confusing and a little intimidating to shop for a lender.  choosing from so many companies and types of lenders could be difficult. But when you understand the differences between the main types of lenders it would be helpful to narrow down the search. Choosing the right type of loan is obviously important, but when you chose the right lender it could save you money, time, and effort. Hence taking the time to shop around is important.  There are different  types of mortgage lenders  like – retail lenders, direct lenders, mortgage brokers, correspondent lenders, wholesale lenders, and others, and some of these categories overlap. In your  home-buying  research you would have seen the terms “mortgage lender” and “ mortgage broker “, but their functionality and meanings are different. What is a mortgage lender? A financial institution or mortgage bank that offers and underwrites home loans is known as a mortgage