Long-Term Lending Rates

LENDING RATES: ACTUAL 2017 FALL ISSUE

Borrowing Terms ACTUAL - Fall 2017
5 Years 2.80%
10 Years **

3.15%

** Loan requests with terms greater than 10 years will receive this lending rate for the first 10 years of their loan. At the end of 10 years, the relending rate will be reset at the current MFA market rate for a period to be determined at that point (likely 5 years).

At this rate reset date borrowers with terms exceeding 10 years will have the option to repay all or a portion of their loan balance. Borrowers electing to exercise this early loan repayment option must notify the MFA prior to the rate reset date.


Indicative Market Rates - Analytic Purposes Only

On occasion the MFA will set rates for terms other than 10 years. These are the current market rates (as of today) associated with those terms and should be used for analytical purposes only.

Clients are reminded that traditionally the MFA will set the lending rate for the first 10 years on commencement of an issue and then reset that rate generally each 5 year period thereafter.

5 years 2.80%
10 years 3.15%
15 years 3.40%
20 years 3.52%
25 years 3.57%
30 years 3.57%
Amortization Schedules

When completing your Liability Servicing Limit Certificates (municipalities) please use the indicative rates for your estimated interest portion of your debt servicing.

When working with indicative rates & amortization schedules, clients may want to use the indicative 10 year rate for the first 10 years, and then use an assumed 5 year rate for each 5 year period thereafter. The 15, 20, 25 & 30 year rates are strictly indicative and may not be available for financing purposes. 


Historical Rates

The following are the lending rates set at commencement of each issue. The rates are set for the first 10 years and then subject to a rate reset for loans exceeding that period. In this regard the 15, 20, 25 & 30 year terms will reflect this initial 10 year rate unless the MFA has issued a longer term debenture for funding purposes.  

Year   Issue #  5 yr 10 yr 15 yr 20 yr 25 yr 30 yr
2017 Fall 142 2.800% 3.150% 3.150% 3.150% 3.150% 3.150%
2017 Spring 141 1.900% 2.800% 2.800% 2.800% 2.800% 2.800%
2016 Fall 139 1.500% 2.100% 2.100% 2.100% 2.100% 2.100%
2016 Spring 137 1.750% 2.600% 2.600% 2.600% 2.600% 2.600%
2015 Fall 133 1.700% 2.750% 2.750% 2.750% 2.750% 2.750%
2015 Spring 131 1.450% 2.200% 2.200% 2.200% 2.200% 2.200%
2014 Fall 130 2.050% 3.000% 3.000% 3.000% 3.000% 3.000%
2014 Spring 127 2.300% 3.300% 3.300% 3.300% 3.300% 3.300%
2013 Fall 126 2.750% 3.850% 3.850% 3.850% 3.850% 3.850%
2013 Spring 124 2.150% 3.150% 3.150% 3.150% 3.150% 3.150%
2012 Fall 121 2.050% 2.900% 2.900% 2.900% 2.900% 2.900%
2012 Spring 118 2.400% 3.400% 3.400% 3.400% 3.400% 3.400%
2011 Fall 117 2.150% 3.250% 3.250% 3.250% 3.250% 3.250%
2011 Spring 116 3.250% 4.200% 4.200% 4.200% 4.200%  
2010 Fall 110 2.520% 3.730% 3.730% 3.730% 3.730%  
2010 Spring 110 3.350% 4.500% 4.500% 4.500% 4.500%  
2009 Fall 106 3.230% 4.130% 4.130% 4.130% 4.130% 4.130%
2009 Spring 105 3.550% 4.900% 4.900% 4.900% 4.900%  
2008 Fall 104 4.350% 5.150% 5.150% 5.150% 5.150% 5.150%
2008 Spring 103 4.250% 4.650% 4.650% 4.650% 4.650% 4.650%
2007 Fall 102 4.820% 4.820% 4.820% 4.820% 4.820%  
2007 Spring 101 4.520% 4.520% 4.520% 4.520% 4.520%  
2006 Fall 99 4.240% 4.430% 4.430% 4.430% 4.430% 4.430%
2006 Spring 97 4.560% 4.660% 4.660% 4.660% 4.660%  
2005 Fall 95 3.870% 4.170% 4.170% 4.170% 4.170%  
2005 Spring 92/93 4.250% 4.550% 4.550% 5.100% 4.550%  
2004 Fall 85 4.525% 4.975% 4.975% 4.975% 4.975% 4.975%
2004 Spring 81 4.150% 4.860% 4.860% 4.860% 4.860%  
2003 Fall 80 4.060% 4.775% 4.775% 4.775% 4.775% 5.500%
2003 Spring 79 5.491% 5.491% 5.491% 5.491% 5.491% 5.570%
2002 Fall 78 5.370% 5.370% 5.370% 5.370% 5.370%  
2002 Spring 77 5.800% 6.060% 6.060% 6.060% 6.060%  
2001 Fall 75 5.100% 5.690% 5.690% 5.690% 5.690%  
2001 Spring 74 5.930% 5.930% 5.930% 5.930% 5.930%  
2000 Fall 73 6.360% 6.360% 6.360% 6.360% 6.360%  
2000 Spring 72 6.450% 6.450% 6.450% 6.450% 6.450%  
1999 Fall 71 5.840% 5.990% 5.990% 5.990% 5.990%  
1999 Spring 70 5.490% 5.490% 5.490% 5.490% 5.490%  
1998 Fall 69 5.550% 5.550% 5.550% 5.550% 5.550%  
1998 Spring 68 5.460% 5.460% 5.460% 5.460% 5.460%  
1997 Fall 66 5.500% 5.850% 5.850% 5.850% 5.850%  
1997 Spring 65 6.900% 6.900% 6.900% 6.900% 6.900%  
1996 Fall 64 7.421% 7.421% 7.421% 7.421% 7.421%  
1996 Spring 63 7.750% 7.750% 7.750% 7.750% 7.750%  
1995 Fall 61 7.900% 7.900% 8.000% 8.000% 8.000%  
1995 Spring 60 8.300% 8.660% 8.810% 8.800% 8.900%  
1994 Fall 59 9.350% 9.350% 9.470% 9.520% 9.520%  
1994 Spring 58 8.750% 8.850% 8.900% 8.950% 8.950%  
1993 Fall 56 7.800% 7.950% 8.000% 8.250% 8.500%  
1993 Spring 55 7.000% 7.625% 8.125% 8.500%    
1992 Fall 54 8.050% 8.050% 8.050% 8.050% 8.050%  
1992 Spring 53 9.625% 9.625% 9.625% 9.625%    
1991 Fall 51 9.500% 9.500% 9.500% 9.500% 9.500%  
1991 Spring 50 10.070% 10.070% 10.070% 10.070%    

For those issues where the first 10 period has expired, the new refinancing rates and terms will be indicated on the status of loans document.

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Every year the MFA presents to 3 credit rating agencies to access the lowest rate possible for our clients.  Here are their findings.

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