The interest rate that banks charge their most creditworthy customers. Used as the base for adjustable-rate mortgages, credit cards, and home equity lines of credit. Set by banks but moves with Fed policy.
The interest rate that banks charge their most creditworthy customers. Used as the base for adjustable-rate mortgages, credit cards, and home equity lines of credit. Set by banks but moves with Fed policy.
This data is updated automatically from FRED (Federal Reserve Economic Data). Most rates are updated daily or weekly. Check back regularly for the latest figures.
Prime Rate influences borrowing costs, savings rates, and investment returns. When rates rise, mortgages and loans become more expensive; when they fall, borrowing becomes cheaper and existing bonds lose value.
All data is sourced from FRED (Federal Reserve Economic Data), the official economic database maintained by the Federal Reserve Bank of St. Louis. FRED provides free access to US economic and financial data.