Current Production Rate

Current production rate

The highest interest rate permissible on current Government National Mortgage Association, mortgage-backed securities.

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current production rate

The maximum interest rate payable on current Ginnie Mae pass throughs. The current production rate is usually ¹/₂ of 1% under the rate of interest charged on mortgages backing the pass throughs, with the difference covering service charges to the firm processing the mortgages.

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Current Production Rate

The highest interest rate payable on mortgage-backed securities guaranteed by the Government National Mortgage Association (Ginnie Mae). The current production rate is usually half a point less than what the homeowners are paying in interest on their mortgage. For example, if homeowners whose mortgages back the securities are paying 6% on their mortgages, the maximum interest payable is almost always 5.5%. See also: Ginnie Mae Pass-Through.