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October 14, 2008 Loans - Home | Personal |
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October 14, 2008 Loans - Home | Personal |
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Prime Rate
Historical Graph | Historical Chart | Other Rates/Indexes | Add this Page to Your Favorites (click here)
The last reported rate is: 4.50 % (Effective since October 8, 2008)
What is the Prime Rate? The Prime Interest Rate is the interest rate charged by banks to their most creditworthy customers (usually the most prominent and stable business customers). The rate is almost always the same amongst major banks. Adjustments to the prime lending rate are made by banks at the same time; although, the prime rate does not adjust on any regular basis. The Prime Rate is usually adjusted at the same time and in correlation to the adjustments of the Fed Funds Rate. The rates reported below are based upon the prime rates on the first day of each respective month.
Historical Graph
Historical Chart
| Prime Rate | |||||||||||
| Month/Day | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
| Jan 1 | 8.50% | 7.75% | 8.50% | 9.50% | 4.75% | 4.25% | 4.00% | 5.25% | 7.25% | 8.25% | 7.25% |
| Feb 1 | 8.50% | 7.75% | 8.50% | 8.50% | 4.75% | 4.25% | 4.00% | 5.25% | 7.50% | 8.25% | 6.00% |
| Mar 1 | 8.50% | 7.75% | 8.75% | 8.50% | 4.75% | 4.25% | 4.00% | 5.50% | 7.50% | 8.25% | 6.00% |
| Apr 1 | 8.50% | 7.75% | 9.00% | 8.00% | 4.75% | 4.25% | 4.00% | 5.75% | 7.75% | 8.25% | 5.25% |
| May 1 | 8.50% | 7.75% | 9.00% | 7.50% | 4.75% | 4.25% | 4.00% | 5.75% | 7.75% | 8.25% | 5.00% |
| Jun 1 | 8.50% | 7.75% | 9.50% | 7.00% | 4.75% | 4.25% | 4.00% | 6.00% | 8.00% | 8.25% | 5.00% |
| Jul 1 | 8.50% | 8.00% | 9.50% | 6.75% | 4.75% | 4.00% | 4.25% | 6.25% | 8.25% | 8.25% | 5.00% |
| Aug 1 | 8.50% | 8.00% | 9.50% | 6.75% | 4.75% | 4.00% | 4.25% | 6.25% | 8.25% | 8.25% | 5.00% |
| Sep 1 | 8.50% | 8.25% | 9.50% | 6.50% | 4.75% | 4.00% | 4.50% | 6.50% | 8.25% | 8.25% | 5.00% |
| Oct 1 | 8.25% | 8.25% | 9.50% | 6.00% | 4.75% | 4.00% | 4.75% | 6.75% | 8.25% | 7.75% | 5.00% |
| Nov 1 | 8.00% | 8.25% | 9.50% | 5.50% | 4.75% | 4.00% | 4.75% | 7.00% | 8.25% | 7.50% | |
| Dec 1 | 7.75% | 8.50% | 9.50% | 5.00% | 4.25% | 4.00% | 5.00% | 7.00% | 8.25% | 7.50% | |
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Source: Federal Reserve Board
A complete history of the specific dates on which the Prime Rate changed are found on the Federal Reserve Bank of St. Louis website at http://research.stlouisfed.org/fred2/data/PRIME.txt
Reasonable efforts are made to maintain accurate information. However, information could contain errors or inaccuracies and is presented without warranty. No liability is assumed for errors or omissions.
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