The applicable federal interest rates and the adjusted applicable federal rates for July have been set by the Internal Revenue Service.  According to Revenue Ruling 2014-20, issued June 19, the following are the applicable federal rates: short-term is 0.31%, midterm is 1.82% and long-term is 3.06%.  Revenue Ruling 2014-20 also reports the annual adjusted federal rates as:  short term at 0.31%, midterm at 1.40% and long-term at 3.06%.  Revenue Ruling 2014-20 is available here.