What is the federal prime rate?

Answer In the U.S., all states operate under the same national federal prime rate as reported and determined by the Wall Street Journal. The federal prime rate is used to set prices on student loans, cred... Read More »

Top Q&A For: What is the federal prime rate

What is the federal reserve prime rate?

The U.S. Prime Rate, sometimes referred as the Federal Reserve Prime Rate, refers to the lowest average interest rate that U.S. banks charge their best customers to borrow money. It is an index of... Read More »

What is the difference between the prime rate&the target rate?

The prime rate and the target rate are both interest rates that help determine how much it costs to get a loan from the bank. One rate influences the other.The Prime RateThe prime rate is the benc... Read More »

How Does the Key Interest Rate Compare to a Prime Rate?

The key interest rate that controls the prime rate is known as the overnight fed funds rate. This key rate is the interest rate that banks lend and borrow money at between each other. On the other ... Read More »

How Does the Prime Rate Impact a Mortgage Rate?

The prime rate is set by the Federal Reserve and is the interest rate lenders charge their most creditworthy customers. The "prime" fluctuates in relation to the fed fund rate from the Federal Res... Read More »