As of May 20, 2024, the current prime rate is 8.50%, according to The Wall Street Journal’s Money Rates table. This source aggregates the most common prime rates charged throughout the U.S. and ...

The latest prime rate change is in response to the Fed's latest rate cut in 2024. Interest rates were cut by a total of 75 basis points in 2024.

Generally, the prime rate – also known as The Wall Street Journal Prime Rate or U.S. Prime Rate – tends to be about 3 percentage points above the federal funds rate.