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Updated: 11/20/19
 
 
 
Debenture Interest Rates

This notice announces changes in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by the Federal Housing Commissioner under the provisions of the National Housing Act (the Act). The interest rate for debentures issued under Section 221(g)(4) of the Act during the 6-month period beginning July 1, 2019 is 2.375  percent. The interest rate for debentures issued under any other provision of the Act is the rate in effect on the date that the commitment to insure the loan or mortgage was issued, or the date that the loan or mortgage was endorsed (or initially endorsed if there are two or more endorsements) for insurance, whichever rate is higher. The interest rate for debentures issued under these other provisions with respect to a loan or mortgage committed or endorsed during the 6-month period beginning July 1, 2019 is 2.750 percent.

However, as a result of an amendment to Section 224 of the Act, if an insurance claim relating to a mortgage insured under sections 203 or 234 of the Act and endorsed for insurance after January 23, 2004, is paid in cash, the debenture interest rate for purposes of calculating a claim shall be the monthly average yield, for the month in which the default on the mortgage occurred, on United States Treasury Securities adjusted to a constant maturity of 10 years. The yields can be found at https://www.federalreserve.gov/datadownload/Choose.aspx?rel=H15.

The Department will continue to publish semi-annually the debenture interest rate for the next six-month period in the Federal Register. Concurrently with the publication in the Federal Register, the Department will update the below list of debenture interest rates. For your convenience, here is a listing from 1980 to date. Debenture interest rates in effect prior to 1980 are available in the FHA Single Family Insurance Claims Handbook 4330.4, Revision 1, Appendix 4. The table below is also available as an Excel spreadsheet, Debenture Rate Table.

 

Effective Interest rate

 

on or after

Prior to

221(g)(4)

2.750   July 1, 2019 January 1, 2020 2.375
3.375   January 1, 2019 July 1, 2019 3.125
3.125   July 1, 2018 Jan 1, 2019 3.000
2.750   Jan 1, 2018 July 1, 2018 2.375
2.875   July 1, 2017 Jan 1, 2018 2.250
2.750   Jan 1, 2017 July 1, 2017 2.125
2.500   July 1, 2016 Jan 1, 2017 1.750
2.875        Jan 1, 2016    July 1, 2016                         2.250
2.875   July 1, 2015 Jan 1, 2016 2.125
3.000   Jan 1, 2015 July 1, 2015 2.250
3.250   July 1, 2014 Jan 1, 2015 2.375
3.625   Jan 1, 2014 July 1, 2014 2.500
2.875   July 1, 2013 Jan 1, 2014 1.750

2.500

  Jan 1, 2013 July 1, 2013 1.375
2.750   July 1, 2012 Jan 1, 2013 1.625

2.875

  Jan 1, 2012 July 1, 2012 1.875
4.125   July 1, 2011 Jan 1, 2012

3.000

3.875   Jan 1, 2011 July 1, 2011

2.500

4.125   July 1, 2010 Jan 1, 2011 3.375
4.250   Jan 1, 2010 July 1, 2010 3.375
4.125   July 1, 2009 Jan 1, 2010 3.375
4.125   Jan 1, 2009 July 1, 2009 3.750
4.625   July 1, 2008 Jan 1, 2009 3.875
4.500   Jan 1, 2008 July 1, 2008 4.125
5.000   July 1, 2007 Jan 1, 2008 4.750
4.750   Jan 1, 2007 July 1, 2007 4.875
5.375   July 1, 2006 Jan 1, 2007 5.750
4.875   Jan 1, 2006 July 1, 2006 5.125
4.500   July 1, 2005 Jan 1, 2006 4.875
4.875   Jan 1, 2005 July 1, 2005 5.000
5.500   July 1, 2004 Jan 1, 2005 5.375

5.125

  Jan 1, 2004 July 1, 2004 5.250
4.500   July 1, 2003 Jan 1, 2004 5.000
5.000   Jan 1, 2003 July 1, 2003 5.750

5.750

 

July 1, 2002

Jan 1, 2003

6.625

5.250

 

Jan 1, 2002

July 1, 2002

6.375

5.875

 

July 1, 2001

Jan 1, 2002

6.750

6.000

 

Jan 1, 2001

July 1, 2001

7.125

6.500

 

July 1, 2000

Jan 1, 2001

7.500

6.500

 

Jan 1, 2000

July 1, 2000

7.125

6.125

 

July 1, 1999

Jan 1, 2000

6.625

5.500

 

Jan 1, 1999

July 1, 1999

6.000

6.125

 

July 1, 1998

Jan 1, 1999

6.250

6.375

 

Jan 1, 1998

July 1, 1998

6.250

7.125

 

July 1, 1997

Jan 1, 1998

6.375

6.750

 

Jan 1, 1997

July 1, 1997

6.375

7.250

 

July 1, 1996

Jan 1, 1997

6.875

6.500

 

Jan 1, 1996

July 1, 1996

6.000

7.250

 

July 1, 1995

Jan 1, 1996

6.750

8.375

 

Jan 1, 1995

July 1, 1995

8.000

7.750

 

July 1, 1994

Jan 1, 1995

7.250

6.625

 

Jan 1, 1994

July 1, 1994

5.750

7.000

 

July 1, 1993

Jan 1, 1994

6.000

7.750

 

Jan 1, 1993

July 1, 1993

6.875

8.000

 

July 1, 1992

Jan 1, 1993

7.500

8.000

 

Jan 1, 1992

July 1, 1992

7.500

8.500

 

July 1, 1991

Jan 1, 1992

8.125

8.750

 

Jan 1, 1991

July 1, 1991

8.250

9.000

 

July 1, 1990

Jan 1, 1991

8.625

8.125

 

Jan 1, 1990

July 1, 1990

7.750

9.000

 

July 1, 1989

Jan 1, 1990

8.625

9.250

 

Jan 1, 1989

July 1, 1989

8.625

9.375

 

July 1, 1988

Jan 1, 1989

8.625

9.125

 

Jan 1, 1988

July 1, 1988

8.375

9.000

 

July 1, 1987

Jan 1, 1988

8.250

8.000

 

Jan 1, 1987

July 1, 1987

7.000

8.250

 

July 1, 1986

Jan 1, 1987

7.500

10.250

 

Jan 1, 1986

July 1, 1986

9.250

11.125

 

July 1, 1985

Jan 1, 1986

10.125

11.625

 

Jan 1, 1985

July 1, 1985

10.625

13.375

 

July 1, 1984

Jan 1, 1985

12.000

11.500

 

Jan 1, 1984

July 1, 1984

10.500

10.375

 

July 1, 1983

Jan 1, 1984

9.375

10.250

 

Jan 1, 1983

July 1, 1983

9.750

12.750

 

July 1, 1982

Jan 1, 1983

12.500

12.750

 

Jan 1, 1982

July 1, 1982

11.625

12.875

 

July 1, 1981

Jan 1, 1982

11.625

11.750

 

Jan 1, 1981

July 1, 1981

10.875

9.875

 

July 1, 1980

Jan 1, 1981

9.375

9.500

 

Jan 1, 1980

July 1, 1980

 

 

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