On January 1, 2022, the State Treasurer of the State of Michigan announced and certified the new interest rate for money judgments for the first six months of 2022. The rate is calculated pursuant to Subsection 6 of Section 6013 and Subsection 2 of Section 6455 of Public Act No. 236 of 1961.
The new interest rate for money judgments for the first six months of 2022 is 1.045%. This was certified as the average high yield paid at auctions of 5-year U.S. Treasury Notes during the six months preceding January 1, 2022.
Interest on money judgments is equal to that rate plus 1% or 2.045% for the first six months of 2022. This is an increase from the previous three interest rates all of which were less than 1% (0.739, 0.330, and 0.699).
For the second half of 2022, the interest rate will be recalculated and released on July 1, 2022.
For historical interest rates and other information, please visit the Michigan Department of Treasury website at:
https://www.michigan.gov/treasury/0,4679,7-121-44402_44404-107013–,00.html
