The Federal Reserve publishes the prime rate every business day in its H.15 statistical release. On November 13, 2026 the five most recent business days all showed 7.00%.[1] The table below is the short answer; the rest of the page explains where the number comes from, how often it changes and what it does to a variable-rate loan.
| Rate | Value | Since |
|---|---|---|
| Bank prime loan rate | 7.00% | September 17, 2026 |
| Federal funds target range | 3.75%–4.00% | September 16, 2026 (held October 28, 2026) |
| HELOC at prime + 0.5 (example) | 7.50% | moves with prime |
| HELOC at prime + 1.0 (example) | 8.00% | moves with prime |
What is the prime rate?
The prime rate is the rate most large U.S. banks charge on short-term loans to businesses, and it is a base rate that banks build other loans on. The Federal Reserve's H.15 footnote defines the number it reports as the rate posted by a majority of the top 25 insured U.S.-chartered commercial banks, by assets in domestic offices.[1] Newspapers and lenders sometimes call it the "U.S. prime rate" or the WSJ prime rate; when the banks move together, those figures are the same as the H.15 number.
Prime matters to households because many variable-rate loans use it as their index. A HELOC's rate is usually that index plus a margin the lender sets, so the CFPB tells borrowers to ask which index a plan uses and how often the rate can change.[7] Federal rules require a variable-rate HELOC to use an index that is publicly available and outside the lender's control.[8] Credit cards, some small-business loans and some private student loans also use prime.
Why prime moves when the Fed moves
Prime changes when the Federal Open Market Committee (FOMC) changes its target for the federal funds rate, usually the next day. We compared the two FRED series day by day: on all 4,523 days with both values since December 16, 2008, prime equalled the top of the fed funds target range plus 3 percentage points, except on the 3 days when one had moved and the other had not yet.[2][6] That spread is a market convention, not a rule, but it has held for nearly two decades.
Prime rate = top of the fed funds target range + 3.003.75%–4.00% → 4.00 + 3.00 = 7.00%
On September 16, 2026 the FOMC raised the target range to 3.75%–4.00%, and prime rose from 6.75% to 7.00% the next day.[4][2] On October 28, 2026 the Committee kept the range at 3¾ to 4 percent, so prime stayed at 7.00%.[3]
When could the prime rate change next?
The next chance is the FOMC meeting on December 8–9, 2026. Prime almost never moves between meetings, so the dates below are the days to watch.[5]
| Meeting | Prime could change on |
|---|---|
| December 8–9, 2026 | December 10, 2026 |
| January 26–27, 2027 | January 28, 2027 |
| March 16–17, 2027 | March 18, 2027 |
| April 27–28, 2027 | April 29, 2027 |
| June 8–9, 2027 | June 10, 2027 |
| July 27–28, 2027 | July 29, 2027 |
| September 14–15, 2027 | September 16, 2027 |
The "could change on" column assumes banks follow the pattern of recent years, moving the day after the decision. We update this page after each meeting.
Prime rate history: every change since 2015
Prime has changed 75 times since January 2000, from a high of 9.50% (May 17, 2000) to a low of 3.25%, the level it held for seven years from December 16, 2008 to December 16, 2015.[2] The fastest climb was 2022, with 7 increases that took prime from 3.25% to 7.50% in nine months. The full list of 75 changes since 2000 is in our prime rate history CSV, read row by row from FRED.
| Date | Prime rate | Change (points) |
|---|---|---|
| Sep 17, 2026 | 7.00% | +0.25 |
| Dec 11, 2025 | 6.75% | −0.25 |
| Oct 30, 2025 | 7.00% | −0.25 |
| Sep 17, 2025 | 7.25% | −0.25 |
| Dec 19, 2024 | 7.50% | −0.25 |
| Nov 8, 2024 | 7.75% | −0.25 |
| Sep 19, 2024 | 8.00% | −0.50 |
| Jul 27, 2023 | 8.50% | +0.25 |
| May 4, 2023 | 8.25% | +0.25 |
| Mar 23, 2023 | 8.00% | +0.25 |
| Feb 2, 2023 | 7.75% | +0.25 |
| Dec 15, 2022 | 7.50% | +0.50 |
| Nov 3, 2022 | 7.00% | +0.75 |
| Sep 22, 2022 | 6.25% | +0.75 |
| Jul 28, 2022 | 5.50% | +0.75 |
| Jun 16, 2022 | 4.75% | +0.75 |
| May 5, 2022 | 4.00% | +0.50 |
| Mar 17, 2022 | 3.50% | +0.25 |
| Mar 16, 2020 | 3.25% | −1.00 |
| Mar 4, 2020 | 4.25% | −0.50 |
| Oct 31, 2019 | 4.75% | −0.25 |
| Sep 19, 2019 | 5.00% | −0.25 |
| Aug 1, 2019 | 5.25% | −0.25 |
| Dec 20, 2018 | 5.50% | +0.25 |
| Sep 27, 2018 | 5.25% | +0.25 |
| Jun 14, 2018 | 5.00% | +0.25 |
| Mar 22, 2018 | 4.75% | +0.25 |
| Dec 14, 2017 | 4.50% | +0.25 |
| Jun 15, 2017 | 4.25% | +0.25 |
| Mar 16, 2017 | 4.00% | +0.25 |
| Dec 15, 2016 | 3.75% | +0.25 |
| Dec 17, 2015 | 3.50% | +0.25 |
Is the prime rate high right now?
Yes, compared with this century, though far below its record. Averaged over all 6,779 business days from January 3, 2000 to November 9, 2026, prime was 5.16%, and the middle value was 4.50%; it was above today's 7.00% on 23.7% of those days.[2] The all-time high in the FRED series, which starts in August 1955, is 21.50%, set on December 19, 1980.
| Measure | Prime rate |
|---|---|
| Today | 7.00% |
| Average, 2000 to Nov 9, 2026 | 5.16% |
| Median, 2000 to Nov 9, 2026 | 4.50% |
| High since 2000 (May 17, 2000) | 9.50% |
| Low since 2000 (2008–2015, 2020–2022) | 3.25% |
| Record high (Dec 19, 1980) | 21.50% |
Prime rate by year since 2000
Year-end prime was 6.75% in 2025, down from 8.50% at the end of 2023, the highest year-end since 2000's 9.50%.[2] The low and high columns show how much a variable-rate loan could swing inside a single year.
| Year | Low | High | Year-end |
|---|---|---|---|
| 2026 | 6.75% | 7.00% | 7.00% (so far) |
| 2025 | 6.75% | 7.50% | 6.75% |
| 2024 | 7.50% | 8.50% | 7.50% |
| 2023 | 7.50% | 8.50% | 8.50% |
| 2022 | 3.25% | 7.50% | 7.50% |
| 2021 | 3.25% | 3.25% | 3.25% |
| 2020 | 3.25% | 4.75% | 3.25% |
| 2019 | 4.75% | 5.50% | 4.75% |
| 2018 | 4.50% | 5.50% | 5.50% |
| 2017 | 3.75% | 4.50% | 4.50% |
| 2016 | 3.50% | 3.75% | 3.75% |
| 2015 | 3.25% | 3.50% | 3.50% |
| 2014 | 3.25% | 3.25% | 3.25% |
| 2013 | 3.25% | 3.25% | 3.25% |
| 2012 | 3.25% | 3.25% | 3.25% |
| 2011 | 3.25% | 3.25% | 3.25% |
| 2010 | 3.25% | 3.25% | 3.25% |
| 2009 | 3.25% | 3.25% | 3.25% |
| 2008 | 3.25% | 7.25% | 3.25% |
| 2007 | 7.25% | 8.25% | 7.25% |
| 2006 | 7.25% | 8.25% | 8.25% |
| 2005 | 5.25% | 7.25% | 7.25% |
| 2004 | 4.00% | 5.25% | 5.25% |
| 2003 | 4.00% | 4.25% | 4.00% |
| 2002 | 4.25% | 4.75% | 4.25% |
| 2001 | 4.75% | 9.50% | 4.75% |
| 2000 | 8.50% | 9.50% | 9.50% |
What the prime rate means for your HELOC payment
Each quarter-point move in prime changes the interest-only payment on a $50,000 HELOC balance by $10.42 a month. During the draw period the payment is the balance times the rate divided by 12; after the draw ends it is a level payment over the repayment years.[7]
| Prime rate | Your rate | Interest-only payment | Repaying over 20 years |
|---|---|---|---|
| 6.00% | 6.50% | $270.83 | $372.79 |
| 6.50% | 7.00% | $291.67 | $387.65 |
| 6.75% | 7.25% | $302.08 | $395.19 |
| 7.00% (today) | 7.50% | $312.50 | $402.80 |
| 7.25% | 7.75% | $322.92 | $410.47 |
| 7.50% | 8.00% | $333.33 | $418.22 |
| 8.00% | 8.50% | $354.17 | $433.91 |
To run your own balance, margin and repayment term, use the HELOC payment calculator, which also stress-tests a prime increase and a lifetime rate cap. If you are choosing between a variable line and a fixed loan, the home equity loan vs HELOC comparison shows the lifetime interest of each, and the home equity calculator shows how much you could borrow in the first place.
Your rate may not move the same dayYour HELOC agreement says how often the rate adjusts (often monthly, on a billing date) and may set caps on each change and over the life of the plan. The new rate applies from the next adjustment date, not from the day prime changes.
Frequently asked questions
What is the prime rate today?
7.00%, as published in the Federal Reserve's H.15 release of November 13, 2026. It has been 7.00% since September 17, 2026.[1]
What is the current prime rate based on?
When will the prime rate change?
Only if the FOMC changes its target range. The next meeting is December 8–9, 2026; if the Fed moves, prime usually changes the next day.[5]
Is 7% a high prime rate?
It is above average for this century: prime averaged 5.16% from 2000 to November 2026 and was higher than 7.00% on fewer than a quarter of those days. It is a third of the 21.50% record set in December 1980.[2]
What was the highest prime rate since 2000?
9.50%, reached on May 17, 2000. The lowest was 3.25%, from December 2008 to December 2015 and again from March 2020 to March 2022.[2]
How does the prime rate affect a HELOC?
A variable HELOC rate is usually prime plus a margin, so the rate and payment follow prime.[7] On a $50,000 balance, each 0.25-point change moves the interest-only payment by $10.42 a month.
Sources
- H.15 Selected Interest Rates (Daily), bank prime loan rate and its footnote
- Bank Prime Loan Rate (DPRIME), full daily history, CSV
- Federal Reserve issues FOMC statement
- Federal Reserve issues FOMC statement
- Meeting calendars and information (2026 and 2027 FOMC meetings)
- Federal Funds Target Range – Upper Limit (DFEDTARU)
- What You Should Know About Home Equity Lines of Credit (HELOC)
- Regulation Z § 1026.40, Requirements for home equity plans