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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.
The prime rate varies little among banks and adjustments are generally made by banks at the same time, although this does not happen frequently. As of July 2017, the prime rate was 4.25% in the United States and 2.95% in Canada.