The interest rate for all adjustable rate loans (also called “floating” or “variable” rate loans) are subject to increases or decreases over time regardless of the index used to calculate the rate. The actual impact on your interest rate or payment cannot be determined until your next regularly-scheduled change date.
The transition from LIBOR will not affect your interest rate during any period when your loan contract provides for a fixed rate. Similarly, any maximum or minimum rates specified in your loan contract will not be affected.