• COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE FEBRUARY 11, 2025

    Wednesday, February 12, 2025 | 10:31am

    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 February 10, 2025.

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  • COMMISSIONER GONZALES ANNOUNCES MAXIMUM EFFECTIVE RATE of INTEREST

    Tuesday, February 04, 2025 | 02:51pm

    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 March, 2025 is 8.78 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 4.78 percent.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE FEBRUARY 4, 2025

    Tuesday, February 04, 2025 | 02:48pm

    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 February 3, 2025.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 28, 2025

    Tuesday, January 28, 2025 | 08:20am

    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 27, 2025.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 22, 2025

    Wednesday, January 22, 2025 | 09:30am

    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 21, 2025.

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  • COMMISSIONER GONZALES ANNOUNCES MAXIMUM EFFECTIVE RATE of INTEREST

    Tuesday, January 07, 2025 | 01:03pm

    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.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 7, 2025

    Tuesday, January 07, 2025 | 12:55pm

    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.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 30, 2024

    Monday, December 30, 2024 | 03:57pm

    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.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 23, 2024

    Monday, December 23, 2024 | 04:42pm

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.65 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.65 percent as published by the Federal Reserve on December 23, 2024.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 17, 2024

    Tuesday, December 17, 2024 | 09:13am

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.75 percent as published by the Federal Reserve on December 16, 2024.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 10, 2024

    Tuesday, December 10, 2024 | 04:07pm

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.75 percent as published by the Federal Reserve on December 9, 2024.

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  • COMMISSIONER GONZALES ANNOUNCES MAXIMUM EFFECTIVE RATE of INTEREST

    Tuesday, December 03, 2024 | 09:21pm

    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 January, 2025 is 8.43 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 4.43 percent.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 3, 2024

    Tuesday, December 03, 2024 | 09:18pm

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.75 percent as published by the Federal Reserve on December 2, 2024.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE NOVEMVER 26, 2024

    Tuesday, November 26, 2024 | 09:30am

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.75 percent as published by the Federal Reserve on November 25, 2024.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE NOVEMVER 19, 2024

    Tuesday, November 19, 2024 | 10:36am

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.75 percent as published by the Federal Reserve on November 18, 2024.

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