COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE FEBRUARY 14, 2023
COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE FEBRUARY 14, 2023
news | Financial Institutions | Press Releases | tn | Formula Rates
COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE FEBRUARY 14, 2023
news | Financial Institutions | Press Releases | tn | Formula Rates
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.60 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.60 percent as published by the Federal Reserve on February 6, 2023.
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NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.50 percent as published by the Federal Reserve on January 30, 2023.
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NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.50 percent as published by the Federal Reserve on January 23, 2023.
news | Financial Institutions | Press Releases | tn | Formula Rates
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.50 percent as published by the Federal Reserve on January 17, 2023.
news | Financial Institutions | Press Releases | tn | Formula Rates
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.50 percent as published by the Federal Reserve on January 9, 2023.
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The Federal National Mortgage Association has discontinued its free market auction system for commitments to purchase conventional home mortgages. Therefore, the Commissioner of Financial Institutions hereby announces that the maximum effective rate of interest per annum for home loans as set by the General Assembly in 1987, Public Chapter 291, for the month of February 2023 is 7.95 percent per annum. The rate as set by the said law is an amount equal to four percentage points above the index of market yields of long-term government bonds adjusted to a thirty (30) year maturity by the U. S. Department of the Treasury. For the most recent weekly average statistical data available preceding the date of this announcement, the calculated rate is 3.95 percent.
news | Financial Institutions | Press Releases | tn | Formula Rates
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.50 percent as published by the Federal Reserve on December 27, 2022.
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NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.20 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.00 percent as published by the Federal Reserve on December 19, 2022.
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NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.00 percent as published by the Federal Reserve on December 12, 2022.
news | Financial Institutions | Press Releases | tn | Formula Rates
Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.00 percent as published by the Federal Reserve on November 28, 2022.
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Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.00 percent as published by the Federal Reserve on November 21, 2022.
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Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.00 percent as published by the Federal Reserve on November 14, 2022.
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NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 10.55 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 6.55 percent as published by the Federal Reserve on November 7, 2022.
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NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 10.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 6.25 percent as published by the Federal Reserve on October 31, 2022.
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