Prime Rate

The prime rate is used often as an index in calculating rate changes to adjustable rate mortgages (ARM) and other variable rate short term loans. It is used in the calculation of some private student loans. Many credit cards and home equity lines of credit with variable interest rates have their rate specified as the prime rate (index) plus a fixed value commonly called the spread or margin.

(source: http://en.wikipedia.org/wiki/Prime_rate)


Prime Rate Rates
Prime Rate 3.95%
 

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