Newsroom

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, 2025 is 8.79 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 4.79 percent.

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 6, 2025.

Nashville, TN — Today, the Tennessee Department of Education released the ACT state results and participation rate for the graduating class of 2024. Thanks to efforts by schools and districts to encourage student participation on the ACT, the overall statewide participation rate for the 2024 graduating class was 99 percent. In addition, the state average composite ACT score increased from 19.0 in 2023 to 19.3 in 2024.

On November 5, 2024, voters in the City of Gallatin voted to increase the local sales tax rate to 2.75%. The effective date of the tax rate increase is March 1, 2025.

NASHVILLE, Tenn. – (Jan. 3, 2025) - Tennessee is in the international spotlight, featured on Wanderlust’s 2025 Good to Go List, which spotlights 25 destinations where culture, innovation and community converge. The list champions travel as a force for good, while also celebrating newsworthy events, anniversaries, cultural events and once-in-a-lifetime experiences. Tennessee is one of just a handful of U.S. destinations on the list, including Mississippi and New York state.

NASHVILLE, Tenn. – Dec. 12, 2024 – Signups officially open today for songwriters to take part in the seventh annual statewide Tennessee Songwriters Week. Songwriters of all genres can sign up to perform in qualifying rounds all over Tennessee and compete for a chance to play their original music at iconic venues across the state, including The Bluebird Cafe in Nashville. Helmed by the Tennessee Department of Tourist Development, Tennessee Songwriters Week supports music venues, provides songwriters with live performance opportunities, drives visitation and inspires travelers to experience the state's musical stories, history, attractions and venues. Since its inception in 2019, more than 4,000 songwriters have shared their original songs on Tennessee stages during the annual celebration each February.

Beginning Jan. 10, 2025, new or returning Tennessee residents who currently have a driver license from California, Connecticut, Illinois, Kentucky, Nevada, Oklahoma, Vermont or West Virginia must present a Motor Vehicle Record (MVR) from their former state when applying for a Tennessee license.

NASHVILLE, Tenn. – Today, Tennessee Gov. Bill Lee released 2024 highlights and accomplishments that have contributed to greater opportunity, security and freedom for all Tennesseans.

The Tennessee Department of Safety and Homeland Security marked a year of significant achievements in 2024, reinforcing its commitment to protecting and serving Tennesseans. From hiring and training over 150 State Troopers to advancing school safety initiatives and enhancing first responder communication systems, the department’s efforts directly contributed to making Tennessee a safer place to live, work, and thrive.

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 30, 2024.

Tennessee State Parks will hold First Day Hikes on New Year’s Day, with most of the 59 state parks hosting the events as part of the parks’ year-long Signature Hikes series.