Prime rate is the interest rate that Banks, Credit Unions, and other Financial Institutions use to determine interest rates for mortgage loans (specifically variable and adjustable-rate mortgages), car loans, credit cards a other types of loans.
Prime rate is the interest rate that Banks, Credit Unions, and other Financial Institutions use to determine interest rates for mortgage loans (specifically variable and adjustable-rate mortgages), car loans, credit cards a other types of loans.