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Todayâs Prime Rate. The prime rate today is 3.25%. This prime rate has been in effect since the Fed Funds rate was lowered to 0%-0.25% back in December of 2008. So, 0.25% + 3% = 3.25% (todayâs prime rate). This is the longest period of prime rate stability in history.
Significance. In August 2010, the prime rate stood at 3.25 percent, a relatively low figure in its history. The rate is used to determine interest charged on credit cards, for home-equity loans and lines of credit, personal loans, car loans and some adjustable-rate mortgages.