UPDATED: 07/12/2022

The prime rate, as reported by The Wall Street Journal's bank survey, is among the most

widely used benchmark in setting home equity lines of credit and credit card rates. It is

in turn based on the federal funds rate, which is set by the Federal Reserve. The COFI

(11th District cost of funds index) is a widely used benchmark for adjustable-rate

mortgages.

Click on the links below to find a fuller explanation of the ter

Prime rate, federal funds rate, COFI

THIS WEEK MONTH AGO YEAR AGO

WSJ Prime Rate 4.75 4.00 3.25

Federal Discount Rate 1.75 1.00 0.25

Fed Funds Rate (Current target rate 1.50-1.75) 1.75 1.00 0.25

11th District Cost of Funds 0.22 0.22 0.31

Ratings methodology

What's included? The federal funds rate is the primary tool that the Federal Open Market

Committee uses to influence interest rates and the economy. Changes in the feder

funds rate have far-reaching effects by influencing the borrowing cost of banks in t

overnight lending market, and subsequently the returns offered on bank deposit

products such as certificates of deposit, savings accounts and money market account

Changes in the federal funds rate and the discount rate also dictate changes in The Wall

Prime rate, federal funds rate, COFI

Rate watch Prime rate, federal funds rate, COFI

Create Account

Case: 1:20-cv-04806 Document #: 576-2 Filed: 07/14/22 Page 1 of 4 PageID #:14069
Street Journal prime rate, which is of interest to borrowers. The prime rate is the

underlying index for most credit cards, home equity loans and lines of credit, auto loans,

and personal loans. Many small business loans are also indexed to the Prime rate. The

11th District Cost of Funds is often used as an index for adjustable-rate mortgages.

Compare mortgage rates

FIXED RATES

10 year fixed

10 year fixed refi

15 year fixed

15 year fixed refi

20 year fixed

20 year fixed refi

30 year fixed

30 year fixed refi

30 year FHA

30 year FHA refi

ADJUSTABLE RATES

1 year ARM

1 year ARM refi

3/1 ARM

3/1 ARM refi

5/1 ARM

5/1 ARM refi

7/1 ARM

7/1 ARM refi

10/1 ARM

Case: 1:20-cv-04806 Document #: 576-2 Filed: 07/14/22 Page 2 of 4 PageID #:14070
10/1 ARM refi

INTEREST ONLY RATES

3/1 ARM (IO)

5/1 ARM (IO) refi

5/1 ARM (IO)

7/1 ARM (IO) refi

7/1 ARM (IO)

30 year (IO) refi

30 year fixed (IO)

3/1 ARM (IO) refi

About Help

Legal

About us

Press room

Careers

Advertise with us

Site map

Contact us

Compare rates

Latest news

Popular topics

Glossary

Privacy policy

Cookie Settings

Do not sell my info

Case: 1:20-cv-04806 Document #: 576-2 Filed: 07/14/22 Page 3 of 4 PageID #:14071
How we make money

Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is

compensated in exchange for featured placement of sponsored products and services, or your clicking on links

posted on this website. This compensation may impact how, where and in what order products appear.

Bankrate.com does not include all companies or all available products.

Bankrate, LLC NMLS ID# 1427381 |

BR Tech Services, Inc. NMLS ID #1743443 |

|

© 2022 Bankrate, LLC. A Red Ventures company. All Rights Reserved.

Understanding Bankrate’s averages

Terms of use

GLBA annual notice

California Consumer Financial Privacy Notice

Licenses

NMLS Consumer Access

NMLS Consumer Access

Bankrate US UK

Case: 1:20-cv-04806 Document #: 576-2 Filed: 07/14/22 Page 4 of 4 PageID #:14072