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HUD Notice 2016-01: New Passbook Savings Rate Effective 2/1/2016

Wednesday, January 20, 2016

Passbook Savings Rate Effective February 1, 2016 and Establishing Future Passbook Savings Rates

Notice H-2016-01 (
click to read the entire notice)

Purpose
: This notice supersedes Notice H 2014-15 addressing the passbook savings rate used to determine annual income from net family assets.

Passbook Savings Rate Effective February 1, 2016

Effective February 1, 2016, the passbook savings rate to be used for all move-in, initial, annual, and interim recertifications when a family has net assets over $5,000 is .06% (No change from last year). This .06% rate must be used until Multifamily Housing publishes and makes effective a new passbook savings rate.

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