meta_id 3565603

On October 6, 2026, the Tennessee Department of Financial Institutions announced the maximum effective rate of interest per annum for home loans for November 2026 at 11.37 percent. The Commissioner of Financial Institutions established this rate pursuant to Public Chapter 290, enacted by the General Assembly in 2025. The maximum effective rate is calculated as four percentage points above the average prime offer rate (APOR), as defined in 12 CFR 1026.35, that applies to a thirty-year fixed loan. The APOR is published by the Federal Financial Institutions Examination Council (FFIEC), or its successor federal entity. For the statistical data preceding this announcement, the calculated APOR was 7.37 percent, resulting in the 11.37 percent maximum effective rate. This announcement affects lenders and borrowers engaged in home loan transactions in Tennessee. Persons subject to this maximum effective rate should consult legal counsel regarding the effect of the Depository Institutions Deregulation and Monetary Control Act of 1980 (P.L. 96-221 as amended by P.L. 96-399) and associated regulations promulgated by the Federal Home Loan Bank Board. State usury laws as they relate to certain loans made after March 31, 1980, may be preempted by federal law under this Act. The maximum effective rate of 11.37 percent applies to home loans in November 2026 and will be subject to recalculation in subsequent months based on updated APOR data published by the FFIEC.