Lower Interest Rates

Beginning next year, West Virginians will pay less in interest on court judgments under a new law signed by Governor Justice.

The measure, approved by the house and senate, will set the rate at 2 percent above an annually set federal reserve rate, down from 3 percent.
It lowers the range of possible rates to a minimum of 4 percent and maximum of 9 percent – down from 7 and 11 percent.

The calculation is based on the fifth federal reserve district secondary discount rate.

Tyler Barker
Tyler Barker is currently the News Director and Digital Content Manager for WOAY-TV. He was promoted to this job in Mid-November. He still will fill in on weather from time to time. You can follow Tyler on Facebook and Twitter @wxtylerb. Have any news tips or weather questions? Email him at tbarker@woay.com