COMMISSIONER GONZALES ANNOUNCES MAXIMUM EFFECTIVE RATE of INTEREST

https://www.tn.gov/tdfi/news/2026/3/3/commissioner-gonzales-announces-maximum-effective-rate-of-interest.html
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2026-03-03 18:06:38 · pdonofrio@vixio.com
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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 2025, Public Chapter 290, for the month of April 2026 is 9.98 percent per annum. The maximum effective rate of interest per annum for home loans shall be set at an amount equal to four (4) percentage points above the average prime offer rate (APOR), as defined in 12 CFR 1026.35, that applies to a thirty-year fixed loan, as published by the Federal Financial Institutions Examination Council (FFIEC), or its successor federal entity. For the most recent APOR statistical data available preceding the date of this announcement, the calculated rate is 5.98 percent.

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TITLE: Tennessee Commissioner of Financial Institutions Announces Maximum Effective Interest Rate for Home Loans BODY: On March 3, 2026, the Commissioner of Financial Institutions announced the maximum effective rate of interest per annum for home loans in Tennessee for April 2026 is 9.98 percent per annum. The maximum effective rate is calculated as four percentage points above the average prime offer rate (APOR), as defined in 12 Code of Federal Regulations (CFR) 1026.35, that applies to a thirty-year fixed loan, as published by the Federal Financial Institutions Examination Council (FFIEC). The rate was established pursuant to Public Chapter 290, enacted by the General Assembly in 2025. For the most recent APOR statistical data available preceding the announcement, the calculated rate is 5.98 percent. The announcement affects all persons engaged in home lending in Tennessee. The Commissioner notes that state usury laws relating to certain loans made after March 31, 1980, may be preempted by the Depository Institutions Deregulation and Monetary Control Act of 1980 (P.L. 96-221, as amended by P.L. 96-399). Affected parties should consult legal counsel regarding the effect of this federal Act and regulations promulgated by the Federal Home Loan Bank Board. The maximum effective rate of 9.98 percent per annum is effective for April 2026.
  • ✓ Scraped:2026-03-03 18:06:38
  • ✓ Created:2026-03-03 18:06:38
  • ✓ By:pdonofrio@vixio.com (38)