AFR and Section 7520 Rate History, 2015 to November 2026
Chart: every month since January 2015
Short-term AFRMid-term AFRLong-term AFRSection 7520 rate
Annual compounding. Move over the chart to read a month. From January 2015, when the short-term AFR was 0.41%, to November 2026 at 4.67%; the mid-term AFR moved from 1.75% to 5.08%. Last month (October 2026, Rev. Rul. 2026-19) the three AFRs were 4.25%, 4.61% and 5.22%.
Highs and lows in the data
| Rate | Highest since Jan 2015 | Month | Lowest since Jan 2015 | Month |
|---|---|---|---|---|
| Short-term AFR | 5.30% | November 2023 | 0.11% | March 2021 |
| Mid-term AFR | 5.08% | November 2026 | 0.35% | September 2020 |
| Long-term AFR | 5.52% | November 2026 | 1.00% | September 2020 |
| Section 7520 rate | 6.2% | November 2026 | 0.4% | August 2020 |
All 143 months, newest first
Each month links to the IRS revenue ruling it was read from. The CSV and JSON add the semiannual, quarterly and monthly compounding columns for each term.
| Month | IRS ruling | Short-term AFR | Mid-term AFR | Long-term AFR | Section 7520 rate |
|---|---|---|---|---|---|
| November 2026 | Rev. Rul. 2026-21 | 4.67% | 5.08% | 5.52% | 6.2% |
| October 2026 | Rev. Rul. 2026-19 | 4.25% | 4.61% | 5.22% | 5.6% |
| September 2026 | Rev. Rul. 2026-17 | 4.18% | 4.49% | 5.12% | 5.4% |
| August 2026 | Rev. Rul. 2026-13 | 4.10% | 4.35% | 4.92% | 5.2% |
| July 2026 | Rev. Rul. 2026-12 | 4.00% | 4.35% | 4.98% | 5.2% |
| June 2026 | Rev. Rul. 2026-11 | 3.85% | 4.13% | 4.87% | 5.0% |
| May 2026 | Rev. Rul. 2026-9 | 3.82% | 4.08% | 4.83% | 5.0% |
| April 2026 | Rev. Rul. 2026-7 | 3.59% | 3.82% | 4.62% | 4.6% |
| March 2026 | Rev. Rul. 2026-6 | 3.59% | 3.93% | 4.72% | 4.8% |
| February 2026 | Rev. Rul. 2026-3 | 3.56% | 3.86% | 4.70% | 4.6% |
| January 2026 | Rev. Rul. 2026-2 | 3.63% | 3.81% | 4.63% | 4.6% |
| December 2025 | Rev. Rul. 2025-24 | 3.66% | 3.79% | 4.55% | 4.6% |
| November 2025 | Rev. Rul. 2025-21 | 3.69% | 3.83% | 4.62% | 4.6% |
| October 2025 | Rev. Rul. 2025-19 | 3.81% | 3.87% | 4.73% | 4.6% |
| September 2025 | Rev. Rul. 2025-17 | 4.00% | 4.04% | 4.83% | 4.8% |
| August 2025 | Rev. Rul. 2025-14 | 4.03% | 4.06% | 4.82% | 4.8% |
| July 2025 | Rev. Rul. 2025-13 | 4.12% | 4.19% | 4.90% | 5.0% |
| June 2025 | Rev. Rul. 2025-12 | 4.00% | 4.07% | 4.77% | 5.0% |
| May 2025 | Rev. Rul. 2025-10 | 4.05% | 4.10% | 4.62% | 5.0% |
| April 2025 | Rev. Rul. 2025-8 | 4.16% | 4.21% | 4.61% | 5.0% |
| March 2025 | Rev. Rul. 2025-6 | 4.31% | 4.46% | 4.82% | 5.4% |
| February 2025 | Rev. Rul. 2025-5 | 4.34% | 4.52% | 4.86% | 5.4% |
| January 2025 | Rev. Rul. 2025-1 | 4.33% | 4.24% | 4.53% | 5.2% |
| December 2024 | Rev. Rul. 2024-26 | 4.30% | 4.18% | 4.53% | 5.0% |
| November 2024 | Rev. Rul. 2024-24 | 4.00% | 3.70% | 4.15% | 4.4% |
| October 2024 | Rev. Rul. 2024-21 | 4.21% | 3.70% | 4.10% | 4.4% |
| September 2024 | Rev. Rul. 2024-17 | 4.57% | 4.02% | 4.37% | 4.8% |
| August 2024 | Rev. Rul. 2024-15 | 4.95% | 4.34% | 4.52% | 5.2% |
| July 2024 | Rev. Rul. 2024-13 | 5.06% | 4.49% | 4.61% | 5.4% |
| June 2024 | Rev. Rul. 2024-12 | 5.12% | 4.66% | 4.79% | 5.6% |
| May 2024 | Rev. Rul. 2024-09 | 4.97% | 4.42% | 4.55% | 5.4% |
| April 2024 | Rev. Rul. 2024-07 | 4.89% | 4.30% | 4.45% | 5.2% |
| March 2024 | Rev. Rul. 2024-04 | 4.71% | 4.13% | 4.40% | 5.0% |
| February 2024 | Rev. Rul. 2024-03 | 4.68% | 3.98% | 4.18% | 4.8% |
| January 2024 | Rev. Rul. 2024-02 | 5.00% | 4.37% | 4.54% | 5.2% |
| December 2023 | Rev. Rul. 2023-21 | 5.26% | 4.82% | 5.03% | 5.8% |
| November 2023 | Rev. Rul. 2023-20 | 5.30% | 4.69% | 4.83% | 5.6% |
| October 2023 | Rev. Rul. 2023-18 | 5.22% | 4.43% | 4.46% | 5.4% |
| September 2023 | Rev. Rul. 2023-16 | 5.12% | 4.19% | 4.19% | 5.0% |
| August 2023 | Rev. Rul. 2023-13 | 5.07% | 4.09% | 4.03% | 5.0% |
| July 2023 | Rev. Rul. 2023-12 | 4.80% | 3.85% | 3.98% | 4.6% |
| June 2023 | Rev. Rul. 2023-10 | 4.43% | 3.56% | 3.79% | 4.2% |
| May 2023 | Rev. Rul. 2023-9 | 4.30% | 3.57% | 3.72% | 4.4% |
| April 2023 | Rev. Rul. 2023-6 | 4.86% | 4.15% | 4.02% | 5.0% |
| March 2023 | Rev. Rul. 2023-5 | 4.50% | 3.70% | 3.74% | 4.4% |
| February 2023 | Rev. Rul. 2023-3 | 4.47% | 3.82% | 3.86% | 4.6% |
| January 2023 | Rev. Rul. 2023-1 | 4.50% | 3.85% | 3.84% | 4.6% |
| December 2022 | Rev. Rul. 2022-22 | 4.55% | 4.27% | 4.34% | 5.2% |
| November 2022 | Rev. Rul. 2022-20 | 4.10% | 3.97% | 3.92% | 4.8% |
| October 2022 | Rev. Rul. 2022-18 | 3.40% | 3.28% | 3.43% | 4.0% |
| September 2022 | Rev. Rul. 2022-17 | 3.05% | 2.93% | 3.14% | 3.6% |
| August 2022 | Rev. Rul. 2022-14 | 2.88% | 3.15% | 3.35% | 3.8% |
| July 2022 | Rev. Rul. 2022-12 | 2.37% | 2.99% | 3.22% | 3.6% |
| June 2022 | Rev. Rul. 2022-10 | 2.21% | 2.93% | 3.11% | 3.6% |
| May 2022 | Rev. Rul. 2022-9 | 1.85% | 2.51% | 2.66% | 3.0% |
| April 2022 | Rev. Rul. 2022-8 | 1.26% | 1.87% | 2.25% | 2.2% |
| March 2022 | Rev. Rul. 2022-4 | 0.97% | 1.74% | 2.14% | 2.0% |
| February 2022 | Rev. Rul. 2022-3 | 0.59% | 1.40% | 1.92% | 1.6% |
| January 2022 | Rev. Rul. 2022-1 | 0.44% | 1.30% | 1.82% | 1.6% |
| December 2021 | Rev. Rul. 2021-23 | 0.33% | 1.26% | 1.90% | 1.6% |
| November 2021 | Rev. Rul. 2021-21 | 0.22% | 1.08% | 1.86% | 1.4% |
| October 2021 | Rev. Rul. 2021-18 | 0.18% | 0.91% | 1.74% | 1.0% |
| September 2021 | Rev. Rul. 2021-16 | 0.17% | 0.86% | 1.73% | 1.0% |
| August 2021 | Rev. Rul. 2021-14 | 0.19% | 1.00% | 1.89% | 1.2% |
| July 2021 | Rev. Rul. 2021-12 | 0.12% | 1.00% | 2.07% | 1.2% |
| June 2021 | Rev. Rul. 2021-9 | 0.13% | 1.02% | 2.08% | 1.2% |
| May 2021 | Rev. Rul. 2021-8 | 0.13% | 1.07% | 2.16% | 1.2% |
| April 2021 | Rev. Rul. 2021-7 | 0.12% | 0.89% | 1.98% | 1.0% |
| March 2021 | Rev. Rul. 2021-5 | 0.11% | 0.62% | 1.62% | 0.8% |
| February 2021 | Rev. Rul. 2021-4 | 0.12% | 0.56% | 1.46% | 0.6% |
| January 2021 | Rev. Rul. 2021-1 | 0.14% | 0.52% | 1.35% | 0.6% |
| December 2020 | Rev. Rul. 2020-26 | 0.15% | 0.48% | 1.31% | 0.6% |
| November 2020 | Rev. Rul. 2020-22 | 0.13% | 0.39% | 1.17% | 0.4% |
| October 2020 | Rev. Rul. 2020-20 | 0.14% | 0.38% | 1.12% | 0.4% |
| September 2020 | Rev. Rul. 2020-16 | 0.14% | 0.35% | 1.00% | 0.4% |
| August 2020 | Rev. Rul. 2020-15 | 0.17% | 0.41% | 1.12% | 0.4% |
| July 2020 | Rev. Rul. 2020-14 | 0.18% | 0.45% | 1.17% | 0.6% |
| June 2020 | Rev. Rul. 2020-12 | 0.18% | 0.43% | 1.01% | 0.6% |
| May 2020 | Rev. Rul. 2020-11 | 0.25% | 0.58% | 1.15% | 0.8% |
| April 2020 | Rev. Rul. 2020-9 | 0.91% | 0.99% | 1.44% | 1.2% |
| March 2020 | Rev. Rul. 2020-6 | 1.50% | 1.53% | 1.93% | 1.8% |
| February 2020 | Rev. Rul. 2020-3 | 1.59% | 1.75% | 2.15% | 2.2% |
| January 2020 | Rev. Rul. 2020-1 | 1.60% | 1.69% | 2.07% | 2.0% |
| December 2019 | Rev. Rul. 2019-26 | 1.61% | 1.69% | 2.09% | 2.0% |
| November 2019 | Rev. Rul. 2019-25 | 1.68% | 1.59% | 1.94% | 2.0% |
| October 2019 | Rev. Rul. 2019-23 | 1.69% | 1.51% | 1.86% | 1.8% |
| September 2019 | Rev. Rul. 2019-20 | 1.85% | 1.78% | 2.21% | 2.2% |
| August 2019 | Rev. Rul. 2019-17 | 1.91% | 1.87% | 2.33% | 2.2% |
| July 2019 | Rev. Rul. 2019-16 | 2.13% | 2.08% | 2.50% | 2.6% |
| June 2019 | Rev. Rul. 2019-14 | 2.37% | 2.38% | 2.76% | 2.8% |
| May 2019 | Rev. Rul. 2019-12 | 2.39% | 2.37% | 2.74% | 2.8% |
| April 2019 | Rev. Rul. 2019-08 | 2.52% | 2.55% | 2.89% | 3.0% |
| March 2019 | Rev. Rul. 2019-07 | 2.55% | 2.59% | 2.91% | 3.2% |
| February 2019 | Rev. Rul. 2019-04 | 2.57% | 2.63% | 2.91% | 3.2% |
| January 2019 | Rev. Rul. 2019-03 | 2.72% | 2.89% | 3.15% | 3.4% |
| December 2018 | Rev. Rul. 2018-30 | 2.76% | 3.07% | 3.31% | 3.6% |
| November 2018 | Rev. Rul. 2018-28 | 2.70% | 3.04% | 3.22% | 3.6% |
| October 2018 | Rev. Rul. 2018-27 | 2.55% | 2.83% | 2.99% | 3.4% |
| September 2018 | Rev. Rul. 2018-23 | 2.51% | 2.86% | 3.02% | 3.4% |
| August 2018 | Rev. Rul. 2018-21 | 2.42% | 2.80% | 2.95% | 3.4% |
| July 2018 | Rev. Rul. 2018-19 | 2.38% | 2.87% | 3.06% | 3.4% |
| June 2018 | Rev. Rul. 2018-16 | 2.34% | 2.86% | 3.05% | 3.4% |
| May 2018 | Rev. Rul. 2018-12 | 2.18% | 2.69% | 2.94% | 3.2% |
| April 2018 | Rev. Rul. 2018-09 | 2.12% | 2.72% | 3.04% | 3.2% |
| March 2018 | Rev. Rul. 2018-06 | 1.96% | 2.57% | 2.88% | 3.0% |
| February 2018 | Rev. Rul. 2018-5 | 1.81% | 2.31% | 2.66% | 2.8% |
| January 2018 | Rev. Rul. 2018-1 | 1.68% | 2.18% | 2.59% | 2.6% |
| December 2017 | Rev. Rul. 2017-24 | 1.52% | 2.11% | 2.64% | 2.6% |
| November 2017 | Rev. Rul. 2017-21 | 1.38% | 2.00% | 2.60% | 2.4% |
| October 2017 | Rev. Rul. 2017-20 | 1.27% | 1.85% | 2.50% | 2.2% |
| September 2017 | Rev. Rul. 2017-17 | 1.29% | 1.94% | 2.60% | 2.4% |
| August 2017 | Rev. Rul. 2017-15 | 1.29% | 1.95% | 2.58% | 2.4% |
| July 2017 | Rev. Rul. 2017-14 | 1.22% | 1.89% | 2.60% | 2.2% |
| June 2017 | Rev. Rul. 2017-12 | 1.18% | 1.96% | 2.68% | 2.4% |
| May 2017 | Rev. Rul. 2017-11 | 1.15% | 2.04% | 2.75% | 2.4% |
| April 2017 | Rev. Rul. 2017-08 | 1.11% | 2.12% | 2.82% | 2.6% |
| March 2017 | Rev. Rul. 2017-07 | 1.01% | 2.05% | 2.78% | 2.4% |
| February 2017 | Rev. Rul. 2017-4 | 1.04% | 2.10% | 2.81% | 2.6% |
| January 2017 | Rev. Rul. 2017-2 | 0.96% | 1.97% | 2.75% | 2.4% |
| December 2016 | Rev. Rul. 2016-27 | 0.74% | 1.47% | 2.26% | 1.8% |
| November 2016 | Rev. Rul. 2016-26 | 0.68% | 1.33% | 2.07% | 1.6% |
| October 2016 | Rev. Rul. 2016-25 | 0.66% | 1.29% | 1.95% | 1.6% |
| September 2016 | Rev. Rul. 2016-20 | 0.61% | 1.22% | 1.90% | 1.4% |
| August 2016 | Rev. Rul. 2016-18 | 0.56% | 1.18% | 1.90% | 1.4% |
| July 2016 | Rev. Rul. 2016-17 | 0.71% | 1.43% | 2.18% | 1.8% |
| June 2016 | Rev. Rul. 2016-13 | 0.64% | 1.41% | 2.24% | 1.8% |
| May 2016 | Rev. Rul. 2016-11 | 0.67% | 1.43% | 2.24% | 1.8% |
| April 2016 | Rev. Rul. 2016-09 | 0.70% | 1.45% | 2.25% | 1.8% |
| March 2016 | Rev. Rul. 2016-07 | 0.65% | 1.48% | 2.33% | 1.8% |
| February 2016 | Rev. Rul. 2016-4 | 0.81% | 1.82% | 2.62% | 2.2% |
| January 2016 | Rev. Rul. 2016-1 | 0.75% | 1.81% | 2.65% | 2.2% |
| December 2015 | Rev. Rul. 2015-25 | 0.56% | 1.68% | 2.61% | 2.0% |
| November 2015 | Rev. Rul. 2015-22 | 0.49% | 1.59% | 2.57% | 2.0% |
| October 2015 | Rev. Rul. 2015-21 | 0.55% | 1.67% | 2.58% | 2.0% |
| September 2015 | Rev. Rul. 2015-19 | 0.54% | 1.77% | 2.64% | 2.2% |
| August 2015 | Rev. Rul. 2015-16 | 0.48% | 1.82% | 2.82% | 2.2% |
| July 2015 | Rev. Rul. 2015-15 | 0.48% | 1.77% | 2.74% | 2.2% |
| June 2015 | Rev. Rul. 2015-14 | 0.43% | 1.60% | 2.50% | 2.0% |
| May 2015 | Rev. Rul. 2015-8 | 0.43% | 1.53% | 2.30% | 1.8% |
| April 2015 | Rev. Rul. 2015-7 | 0.48% | 1.70% | 2.47% | 2.0% |
| March 2015 | Rev. Rul. 2015-4 | 0.40% | 1.47% | 2.19% | 1.8% |
| February 2015 | Rev. Rul. 2015-3 | 0.48% | 1.70% | 2.41% | 2.0% |
| January 2015 | Rev. Rul. 2015-1 | 0.41% | 1.75% | 2.67% | 2.2% |
How the rates are used
The AFR is the minimum interest rate the IRS accepts on seller-financed notes in an installment sale, and the benchmark for family loans and many estate planning valuations.
For a sale, the test rate is the lowest AFR in the three months ending with the month of the binding contract, so the history matters, not only the current month.
The section 7520 rate is the discount rate for valuing annuities, life interests, terms of years and remainder interests, including charitable remainder and lead trusts and grantor retained annuity trusts. For how to pick the right term and month, see the AFR guide and the seller financing interest rate article.
Methodology and sources
- Source. Table 1 (AFR) and Table 5 (section 7520) of each monthly IRS revenue ruling, published at irs.gov/applicable-federal-rates. Every figure is checked against the ruling PDF linked in the table; the files are cached and re-read by an automated test before each publish.
- Which rate is shown. The table shows the plain AFR (not the 110%, 120%, 130%, 150% or 175% versions) at annual compounding. Use the CSV or JSON for the other compounding periods.
- Section 7520 rule. The rate is 120% of the mid-term AFR, rounded to the nearest two-tenths of a percent. Because the IRS rounds from unrounded rates, a handful of months land one step away from what you get by rounding the published mid-term figure; the table shows the rate the IRS published.
- Updates. The IRS publishes next month's ruling in the second half of the month. This page, the CSV and the JSON are rebuilt when a new month's rates are loaded. Dataset last built 2026-11-01.
- Not covered. Adjusted AFRs, the 110% to 175% tiers, the pooled income fund rate and the low-income housing credit percentages. Check the ruling for those.
Cite or embed. Free to use with a link back. Suggested attribution:
Installment Sale Calculator, "AFR and Section 7520 Rate History", https://installmentsalecalculator.com/data/afr-and-7520-rate-history/ (data from IRS revenue rulings, checked 2026-11-01). The JSON endpoint sends open CORS headers, so you can load it in your own chart.Changelog
- 2026-11-01. Built from 143 IRS revenue rulings, January 2015 through November 2026. Each month is added when it begins.
Educational only, not tax, legal or investment advice. Rates come from the IRS and should be confirmed in the ruling for the month that applies to your transaction. Hans Goldstein is an Enrolled Agent, admitted to practice before the Internal Revenue Service, and a licensed insurance agent (CA Insurance License #4273294). He is not a CPA or attorney. Not affiliated with or endorsed by the IRS. Disclosures.