{"id":2214,"date":"2014-04-04T23:25:27","date_gmt":"2014-04-04T23:25:27","guid":{"rendered":"http:\/\/fastforwardstory.com\/?p=2214"},"modified":"2014-04-04T23:25:27","modified_gmt":"2014-04-04T23:25:27","slug":"what-is-prime","status":"publish","type":"post","link":"https:\/\/cloud03.titletapsites.com\/newdesign2\/what-is-prime\/","title":{"rendered":"What Is &#8220;Prime&#8221;?"},"content":{"rendered":"<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 28px 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\"><iframe loading=\"lazy\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/w4sjqnsrw7?dnt=1&#038;videoFoam=true\" title=\"Wistia video player\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" allowfullscreen mozallowfullscreen webkitallowfullscreen oallowfullscreen msallowfullscreen width=\"100%\" height=\"100%\"><\/iframe><\/div>\n<\/div>\n<p><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<p>The Prime Lending Rate &#8211; sometimes just called \u201cPrime\u201d \u00a0&#8211; is the interest rate that banks charge each other for overnight loans. Some consumer rates &#8211; like ARMs &#8211; are set in relation to Prime.<\/p>\n<p>In the US, Prime is affected by the Federal Reserve lending rate to banks; historically, Prime is about 3 percent above the Fed rate.<\/p>\n<p>The video shows \u00a0an example.<\/p>\n<ul>\n<li>The Federal Reserve loans to Bank A at 1%<\/li>\n<li>Bank A loans to Bank B at 4%<\/li>\n<li>Both banks &#8211; A &amp; B &#8211; will recalculate variable-rate loans like ARMs on that 4% Prime figure.<\/li>\n<\/ul>\n<p>ARM rates are frequently defined as \u201c% above Prime\u201d &#8211; that gap is usually called the \u201cmargin\u201d or \u201cspread.\u201d Just remember those 3 layers in Prime: Federal Reserve Bank A Bank B And finally, YOUR rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Prime Lending Rate &#8211; sometimes just called \u201cPrime\u201d \u00a0&#8211; is the interest rate that banks charge each other for overnight loans. Some consumer rates &#8211; like ARMs &#8211; are set in relation to Prime. In the US, Prime is affected by the Federal Reserve lending rate to banks; historically, Prime is about 3 percent&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[8],"tags":[17],"class_list":["post-2214","post","type-post","status-publish","format-standard","hentry","category-mortgages","tag-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is &quot;Prime&quot;? - New Design 2<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cloud03.titletapsites.com\/newdesign2\/what-is-prime\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is &quot;Prime&quot;? - New Design 2\" \/>\n<meta property=\"og:description\" content=\"The Prime Lending Rate &#8211; sometimes just called \u201cPrime\u201d \u00a0&#8211; is the interest rate that banks charge each other for overnight loans. Some consumer rates &#8211; like ARMs &#8211; are set in relation to Prime. 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