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, 2009, is
3.750 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, 2009, is 4.125 percent. However, as a result
of a recent 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 in Federal
Reserve Statistical Release H-15. The Federal Housing Administration
is in the process of making conforming amendments to applicable regulations
to fully implement this recent change to section 224 of the Act.
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)
|
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
|
|
Comments
and Questions
|