Tennessee · 114th Regular Session (2025-2026) · Bill

HB 908: Interest Rates - As enacted, removes the weighted average yield of the accepted offers of the Federal National Mortgage Association's current free market system auction and the 30-year treasury yield as the two bases upon which the maximum effective rate of interest on home loans may be set by the commissioner of financial institutions, and replaces them with the average prime offer rate. - Amends TCA Title 45 and Title 47.

Enacted Last action April 28, 2025: Pub. Ch. 290

Plain-language summary

HB 908 is a bill introduced in the Tennessee House on February 4, 2025. According to its official title, it concerns: Interest Rates - As enacted, removes the weighted average yield of the accepted offers of the Federal National Mortgage Association's current free market system auction and the 30-year treasury yield as the two bases upon which the maximum effective rate of interest on home loans may be set by the commissioner of financial institutions, and replaces them with the average prime offer rate. - Amends TCA Title 45 and Title 47. Primary sponsor: Johnny Garrett (Republican). Most recent recorded action (April 28, 2025): Pub. Ch. 290.

Sponsors

Primary sponsor: Johnny Garrett (Republican).