What Is The Prime Rate 2024

What Is The Prime Rate 2024. As of may 20, 2024, the current prime rate is 8.50%, according to the wall street journal’s money rates table. For instance, if the fed funds rate is 5%, roughly where it was in early 2024, a lender might calculate its prime rate as 8%:

Here’s everything you need to know. Prime rate is the base rate on corporate loans posted by at least 70% of the 10 largest u.s.