When did prime rate change
The prime rate does not change at regular intervals. It changes only when the nation's "largest banks" decide on the need to raise, or lower, their "base rate". The The prime rate does not change at regular intervals. It changes only when the nation's "largest banks" decide on the need to raise, or lower, their "base rate. 1983 - Present. Effective Date, Rate*. 3/16/2020, 3.25%. 3/4/2020, 4.25%. 10/31/ 2019, 4.75%. 9/19/2019, 5.00%. 8/1/2019, 5.25%. 12/20/2018, 5.5%. 9/27/2018