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: ...

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

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 ...

The latest prime rate change is in response to the Fed's latest rate cut in 2024. Interest rates were cut by a total of 75 basis points in 2024.

You can see this trend playing out across the credit card market. ... Still, the prime rate has been much higher in the not-too-distant past, reaching 21.50% in 1980, ...