It alters when three-quarters of these financial institutions adjust their rates. Historical prime rate trends analysis. Date of rate change: Rate: December 20, 2024: 7.50%: November 8, 2024: ...

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 ...

After reaching a peak of 7.04% in January 2025, mortgage rates retreated to the mid-6% range in March but then reversed ...