Finance
Which index is commonly used as the basis for adjusting rates on many adjustable-rate mortgages today?
APrime rate
BSOFR (Secured Overnight Financing Rate)✓ Correct
CFederal funds rate
DDiscount rate
Explanation
SOFR (Secured Overnight Financing Rate) has largely replaced LIBOR as the benchmark index for adjustable-rate mortgages in the United States since 2023.
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