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What is the prime lending rate today?

Best Answers

Prime Rate This can be defined as the rate charged by banks to their most credit worthy customers for loans. The term on its own is generic but in the States, it primarily refers to the Wall Street Journal Prime Rate. read more

If you read or hear about a change to the U.S. Prime Rate, then any loan product that is tied to the Prime Rate will also change, like variable-rate credit cards or certain adjustable-rate mortgages. Click here for more information about how the U.S. Prime Rate works. read more

The prime rate will move up or down in lock step with changes by the Federal Reserve Board. How it's used: The prime rate is an important index used by banks to set rates on many consumer loan products, such as credit cards or auto loans. read more

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