HUD Issues Passbook Savings Rate Effective Feb. 1

HUD recently issued a new notice regarding the passbook savings rate, effective Feb. 1, 2016. The passbook savings rate hasn’t changed since 2014. The passbook savings rate to be used for all move-in, initial, annual, and interim recertification when a family has net assets over $5,000 is .06 percent. This .06 percent rate must be used until HUD publishes and makes effective a new passbook savings rate.