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The council reduced the rate to 68 percent.
The authority had proposed raising the rate to $2.25.
The judge wants the rate to be $90 an hour.
City economists had expected the rate to stay stable.
Economists had expected the rate to remain 9 percent.
In late February, it cut the rate to 3.75percentt for March.
The final increase, boosting the rate to 8.1percentt in 2013, remains in effect.
The central bank lowered the rate to 1.625percentt from 1.875 percent.
He expects the rate to be down to 5.25percentt or 5percentt by June.
In 2014, applications were down to 1,235 with 240 acceptances, increasing the rate to 19.4%.
On interest-only loans, the lender would have to reduce the rate to 2percentt.
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