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Prime Rate

QUOTE AND NEWS
The Early 80's Were Way Worse Than Today
Clusterstock  Sep 27  Comment 
While the US crisis shares some similarities to The Great Depression, overall it's not "the worst since the depression." You don't need to go back that far. The early-1980's were worse than today in many ways. At the same time the US embarked on...
Adjustable Rate
Investing School  Aug 20  Comment 
An adjustable rate is a rate usually set a few percentage points above the prime rate that is offered to home buyers when the prime rate is higher than normal. A buyer opts for this arrangement in hopes that the prime will go down, thus bringing...
Credit Cards: Goodbye, Fixed Rates?
BusinessWeek  Jul 10  Comment 
Big issuers plan to switch some customers to variable-rate cards from fixed as credit-card reforms take effect
BofA, JPMorgan move cardholders to variable rates
Reuters  Jul 9  Comment 
Bank of America Corp and JPMorgan Chase & Co are switching some customers who have fixed-rate credit cards to potentially higher variable rates, acting before a new law takes effect that limits what card issuers can charge.
BofA, JPMorgan Tie Interest Charges On Credit Cards To Prime Rate
Banking Business Review  Jul 8  Comment 
To absorb record amounts of customer defaults
The Pause That Refreshes?
The Kaighn Report  May 3  Comment 
On Wednesday the Fed cut rates by another quarter point to 2%, lower than they've been since 2004. Year-to-date, prime rate cuts have been bigger and faster than they have for decades. The market response was initially enthusiastic but flagged by...
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more ▼WIKI ANALYSIS
 


The Prime Rate is the base rate that banks use in pricing commercial loans to their best creditworthy customers. This rate is posted by a majority of top 25 (by assets in domestic offices) insured U.S.-chartered commercial banks. This rate is affected by the Federal Reserve's decision to raise or lower prevailing interest rates for short-term borrowing.

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