News & Events
News
COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JULY 16, 2019
Tuesday, July 16, 2019 | 08:51am
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.50 percent as published by the Federal Reserve on July 15, 2019.
Read full story
News
- COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JULY 9, 2019
- Announcement of Maximum Effective Rate of Interest on Home Loans
- COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JULY 2, 2019
- COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JUNE 25, 2019
- COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE June 18, 2019
- COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE June 11, 2019
News
Announcement of Maximum Effective Rate of Interest on Home Loans
Tuesday, June 04, 2019 | 10:03am
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 July, 2019 is 6.65 percent per annum.
Read full story