LIBOR, which stands for London Inter-bank Offered Rate, is a trademarked term that refers to benchmark short-term interest rates. It is a daily average derived from the interest rates international banks charge one another, and it was used to establish retail lending interest rates. LIBOR was replaced in 2023 with the Secured Overnight Financing Rate (SOFR). The Wall Street Journal is a good source of current market rates like SOFR.