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Updated: 02/18/2022
 
 
 
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 January 1, 2022, is 1.500 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 January 1, 2022, is 1.875 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.

 

Debenture table

Effective Interest rate on or after Prior to 221(g)(4)
1.875 January 1, 2022 July 1, 2022 1.500
2.250 July 1,2021 January 1, 2022 1.500
1.375 January 1, 2021 July 1, 2021 0.750
1.250 July 1,2020 January 1, 2021 0.625
2.250 January 1, 2020 July 1, 2020 1.750
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 January 1, 2019 3.000
2.750 January 1, 2018 July 1, 2018 2.375
2.875 July 1, 2017 January 1, 2018 2.250
2.750 January 1, 2017 July 1, 2017 2.125
2.500 July 1, 2016 January 1, 2017 1.750
2.875 January 1, 2016 July 1, 2016 2.250
2.875 July 1, 2015 January 1, 2016 2.125
3.000 January 1, 2015 July 1, 2015 2.250
3.250 July 1, 2014 January 1, 2015 2.375
3.625 January 1, 2014 July 1, 2014 2.500
2.875 July 1, 2013 January 1, 2014 1.750
2.500 January 1, 2013 July 1, 2013 1.375
2.750 July 1, 2012 January 1, 2013 1.625
2.875 January 1, 2012 July 1, 2012 1.875
4.125 July 1, 2011 January 1, 2012 3.000
3.875 January 1, 2011 July 1, 2011 2.500
4.125 July 1, 2010 January 1, 2011 3.375
4.250 January 1, 2010 July 1, 2010 3.375
4.125 July 1, 2009 January 1, 2010 3.375
4.125 January 1, 2009 July 1, 2009 3.750
4.625 July 1, 2008 January 1, 2009 3.875
4.500 January 1, 2008 July 1, 2008 4.125
5.000 July 1, 2007 January 1, 2008 4.750
4.750 January 1, 2007 July 1, 2007 4.875
5.375 July 1, 2006 January 1, 2007 5.750
4.875 January 1, 2006 July 1, 2006 5.125
4.500 July 1, 2005 January 1, 2006 4.875
4.875 January 1, 2005 July 1, 2005 5.000
5.500 July 1, 2004 January 1, 2005 5.375
5.125 January 1, 2004 July 1, 2004 5.250
4.500 July 1, 2003 January 1, 2004 5.000
5.000 January 1, 2003 July 1, 2003 5.750
5.750 July 1, 2002 January 1, 2003 6.625
5.250 January 1, 2002 July 1, 2002 6.375
5.875 July 1, 2001 January 1, 2002 6.750
6.000 January 1, 2001 July 1, 2001 7.125
6.500 July 1, 2000 January 1, 2001 7.500
6.500 January 1, 2000 July 1, 2000 7.125
6.125 July 1, 1999 January 1, 2000 6.625
5.500 January 1, 1999 July 1, 1999 6.000
6.125 July 1, 1998 January 1, 1999 6.250
6.375 January 1, 1998 July 1, 1998 6.250
7.125 July 1, 1997 January 1, 1998 6.375
6.750 January 1, 1997 July 1, 1997 6.375
7.250 July 1, 1996 January 1, 1997 6.875
6.500 January 1, 1996 July 1, 1996 6.000
7.250 July 1, 1995 January 1, 1996 6.750
8.375 January 1, 1995 July 1, 1995 8.000
7.750 July 1, 1994 January 1, 1995 7.250
6.625 January 1, 1994 July 1, 1994 5.750
7.000 July 1, 1993 January 1, 1994 6.000
7.750 January 1, 1993 July 1, 1993 6.875
8.000 July 1, 1992 January 1, 1993 7.500
8.000 January 1, 1992 July 1, 1992 7.500
8.500 July 1, 1991 January 1, 1992 8.125
8.750 January 1, 1991 July 1, 1991 8.250
9.000 July 1, 1990 January 1, 1991 8.625
8.125 January 1, 1990 July 1, 1990 7.750
9.000 July 1, 1989 January 1, 1990 8.625
9.250 January 1, 1989 July 1, 1989 8.625
9.375 July 1, 1988 January 1, 1989 8.625
9.125 January 1, 1988 July 1, 1988 8.375
9.000 July 1, 1987 January 1, 1988 8.250
8.000 January 1, 1987 July 1, 1987 7.000
8.250 July 1, 1986 January 1, 1987 7.500
10.250 January 1, 1986 July 1, 1986 9.250
11.125 July 1, 1985 January 1, 1986 10.125
11.625 January 1, 1985 July 1, 1985 10.625
13.375 July 1, 1984 January 1, 1985 12.000
11.500 January 1, 1984 July 1, 1984 10.500
10.375 July 1, 1983 January 1, 1984 9.375
10.250 January 1, 1983 July 1, 1983 9.750
12.750 July 1, 1982 January 1, 1983 12.500
12.750 January 1, 1982 July 1, 1982 11.625
12.875 July 1, 1981 January 1, 1982 11.625
11.750 January 1, 1981 July 1, 1981 10.875
9.875 July 1, 1980 January 1, 1981 9.375
9.500 January 1, 1980 July 1, 1980  
       
       

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