The WSJ prime rate has historically fluctuated substantially over time. In Dec. 2008, it reached a then low of 3.25% after being reported at 9.5% in the early 2000s.

The prime rate interest is based on the rate that banks lend money to one another, also known as the federal funds rate. However, the prime rate is not universal. Each bank can set its own prime rate.

The prime rate is one of the main factors banks use to determine interest rates on loans. If you’re in the market for a new variable rate mortgage or a personal loan, understanding the prime ...

Prime rate definition. The prime rate is a key lending rate used to set many variable interest rates, such as the rates on credit cards and home equity lines of credit, or HELOCs.

Prime Rate Definition. The prime rate is the interest rate banks charge their best customers for loans. “Best in this sense are the borrowers with the least risk of default,” says Jeanette ...

Prime rate definition. The prime rate is a key lending rate used to set many variable interest rates, such as the rates on credit cards and home equity lines of credit, or HELOCs.

A: Yes, the definition has changed in a big way. And yes, the prime rate's importance has diminished as a benchmark rate for big corporate borrowers, bankers say.

The Prime Rate would need to get back to a level where the debt service is between 12% - 15% of GDP, which would put the Prime Rate between around 3.5% - 4% again Vs. 7% today I would think.

It matters because many other interest rates, such as those for mortgages, home-equity loans, credit cards and other business loans, take their lead from the prime rate. Skip to content.

It doesn't, though there is a close relationship between the prime rate and the Fed's federal funds rate. Prime rate definition. The prime rate is a key lending rate used to set many variable interest ...