Wisconsin passed a bill removing an approved index for variable rate transactions. Under the bill, use of the national average mortgage contract rate for major lenders on the purchase of previously occupied homes, as computed by the Federal Home Loan Bank Board, is no longer allowed. The bill went into effect April 10, 2022.
Click to view the Wisconsin House Bill 1023: https://www.tenaco.com/wp-content/uploads/2022/04/WI-AB-1023-04-09-22.pdf
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