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U.S. prime rate. The U.S. prime rate is in principle the interest rate at which a supermajority (3/4ths) of large banks loan money to their most creditworthy corporate clients. [1] As such, it serves as the de facto floor for private-sector lending, and is the baseline from which common "consumer" interest rates are set (e.g. credit card rates).
The prime rate affects almost all individuals and organizations in some way, typically determining how much interest they’ll have to pay on bank-borrowed money. The prime rate stands at 5.50% ...
The prime rate affects almost all individuals and organizations in some way, typically determining how much interest they'll have to pay on bank-borrowed money. This rate, which stands at 3.50% in...
The prime rate is used often as an index in calculating rate changes to adjustable-rate mortgages (ARM) and other variable rate short-term loans. It is used in the calculation of some private student loans. Many credit cards and home equity lines of credit with variable interest rates have their rate specified as the prime rate (index) plus a ...
The prime rate impacts the cost of credit on consumer loans, including credit card accounts, with the rates on consumer loans moving up or down with the prime rate. The prime rate is tied to the ...
In August 2007, Committee announced that "downside risks to growth have increased appreciably," a signal that interest rate cuts might be forthcoming. Between 18 September 2007 and 30 April 2008, the target for the Federal funds rate was lowered from 5.25% to 2% and the discount rate was lowered from 5.75% to 2.25%, through six separate actions.
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