what is prime interest rate today

As of November 13, 2023, the prime interest rate varies depending on the source. According to Commerce Bank, the prime rate is 4.75% as of October 31, 2019. Bankrate reports that the prime rate is 8.5% as of November 8, 2023. Bank of America states that their prime rate is 8.5% as of July 27, 2023. Forbes Advisor also reports that the prime rate is 8.5% as of November 1, 2023. JPMorgan Chase provides historical prime rates, with the most recent being 8.5% as of July 27, 2023. It is important to note that the prime rate is not set by the government, but rather by individual banks based on various factors such as the banks costs and desired return, general economic conditions, and other factors.