I am currently looking to enter into a new adjustable-rate London Interbank Offered Rate (LIBOR) based loan, will this affect me?
If you are considering entering into a new adjustable-rate loan, the reference rate should not be in LIBOR at this time. If you are looking to use LIBOR, you should ask your bank or servicer why they are using a rate that is ending on June 30, 2023.
Last Reviewed: April 2021
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