USDA Sets October Interest Rates

WASHINGTON - Oct 1/24 - The USDA set loan interest rates for October 2024. Under the program, interest rates for Operating and Ownership loans for October 2024 are as follows:       

- Farm Operating Loans (Direct): 4.875% 

- Farm Ownership Loans (Direct): 5.375% 

- Farm Ownership Loans (Direct, Joint Financing): 3.375% 

- Farm Ownership Loans (Down Payment): 1.500%

- Emergency Loan (Amount of Actual Loss): 3.750%   

Rates for Commodity and Storage Facility Loans aer as follows:

- Commodity Loans (less than one year disbursed): 5.125%.      

Rates for Farm Storage Facility Loans: 

- o Three-year loan terms: 3.625% 

- o Five-year loan terms: 3.500% 

- o Seven-year loan terms: 3.625% 

- o Ten-year loan terms: 3.750%

- o Twelve-year loan terms: 3.875% 

- Sugar Storage Facility Loans (15 years): 4.000%  

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