Interest Rates for Money Judgments

January 1, 2014

Subsection 6 of Section 6013, and Subsection 2 of Section 6455 of Public Act No. 236 of 1961, as amended, (M.C.L. Sections 600.6013 and 600.6455) state the following:

Sec. 6013(6) Except as otherwise provided by subsection (5) and subject to subsection (11), for complaints filed on or after January 1, 1987, interest on a money judgment recovered in a civil action shall be calculated at 6-month intervals from the date of filing the complaint at a rate of interest which is equal to 1% plus the average interest rate paid at auctions of 5-year United States treasury notes during the 6 months immediately preceding July 1 and January 1, as certified by the state treasurer, and compounded annually, pursuant to this section.

Sec. 6455 (2) Except as otherwise provided in this subsection, for complaints filed on or after January 1, 1987, interest on a money judgment recovered in a civil action shall be calculated from the date of filing the complaint at a rate of interest which is equal to 1% plus the average interest rate paid at auctions of 5-year United States treasury notes during the 6 months immediately preceding July 1 and January 1, as certified by the state treasurer, and compounded annually, pursuant to this section.

Pursuant to the above requirements, the State Treasurer of the State of Michigan, hereby certify that 1.452% was the average interest rate paid at auctions of 5-year United States treasury notes during the six months immediately preceding January 1, 2014.

 

HISTORICAL INTEREST RATES
TIME PERIOD INTEREST RATE
January 1, 1987 6.66%
July 1, 1987 7.50%
January 1, 1988 8.39%
July 1, 1988 8.21%
January 1, 1989 9.005%
July 1, 1989 9.105%
January 1, 1990 8.015%
July 1, 1990 8.535%
January 1, 1991 8.26%
July 1, 1991 7.715%
January 1, 1992 7.002%
July 1, 1992 6.68%
January 1, 1993 5.797%
July 1, 1993 5.313%
January 1, 1994 5.025%
July 1, 1994 6.128%
January 1, 1995 7.38%
July 1, 1995 6.813%
January 1, 1996 5.953%
July 1, 1996 6.162%
January 1, 1997 6.340%
July 1, 1997 6.497%
January 1, 1998 5.920%
July 1, 1998 5.601%
January 1, 1999 4.8335%
July 1, 1999 5.067%
January 1, 2000 5.7563%
July 1, 2000 6.473%
January 1, 2001 5.965%
July 1, 2001 4.782%
January 1, 2002 4.14%
July 1, 2002

4.36%

January 1, 2003

3.189%

July 1, 2003

2.603%

January 1, 2004

3.295%

July 1, 2004 3.357%
January 1, 2005 3.529%
July 1, 2005 3.845%
January 1, 2006 4.221%
July 1, 2006 4.815%
January 1, 2007 4.701%
July 1, 2007 4.741%
January 1, 2008 4.033%
July 1, 2008 3.063%
January 1, 2009 2.695%
July 1, 2009 2.101%
January 1, 2010 2.480%
July 1, 2010 2.339%
January 1, 2011 1.553%
July 1, 2011 2.007%
January 1, 2012 1.083%
July 1, 2012 0.871%
January 1, 2013 0.687%
July 1, 2013 0.944%
January 1, 2014 1.452%
July 1, 2014 1.622%
January 1, 2015 1.678%


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