USDA interest rates rise


USDA interest rates rise

The interest rate has gone up for some USDA loans.

The new rate for farm operating loans is 2%, compared to 1.75% in November.  Farm ownership loan rates jumped from 2.875% to 3%.  Emergency loan interest jumped from 2.75% to 3%.  The December rates for farm ownership loans with joint financing and farm ownership loans with down payments held steady at 2.5% and 1.5% respectively.

Facility storage loan rates also went up between one and two-tenths of a percent over last month.

Commodity loan rates remain at 1.125%.

USDA also reminds farmers the deadline for applying for COVID 19 Disaster Set-Aside loans has been extended to January 31st of 2022.