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.

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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