Prime Interest Rate Today 2024 Usa. As of may 20, 2024, the current prime rate is 8.50%, according to the wall street journal’s money rates table. Commercial banks use the prime rate to calculate the interest on consumer loans, credit cards, and mortgages.
Bankrate.com displays the wall street prime rate, federal funds dicount rate, and cofi rates for consumers. With interest rates declining, borrowing costs for credit cards, personal loans, and auto financing should get a bit cheaper, saving a few bucks on most loans.
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