What Is The Fed Prime Rate Today 2024 Today. Fed officials say they expect the prime lending rate to fall to roughly 3.4 percent by the end of next year, from about 4.9 percent today. Find the historical prime rate changes in the united states from 1947 to 2022.
For instance, if the fed funds rate is 5%, roughly where it was in early 2024, a lender might calculate its prime rate as 8%: The fed said the cut lowers the federal funds rate into a range of 4.75% to 5%, down from its prior range of 5.25% to 5.5%, which had been its highest level in 23 years.