H.15 Selected Interest Rates (2024)

FAQs

What does H 15 on selected interest rates mean? ›

The United States Federal Reserve Statistical Release H. 15 is a weekly publication (with daily updates) of the Federal Reserve System of selected market interest rates. Many residential mortgage loans are indexed to the one-year treasury rate published in the H. 15 release.

Right now, the Fed interest rate is 5.25% to 5.50%.

Basic Info. 3 Month Treasury Bill Rate is at 5.25%, compared to 5.24% the previous market day and 5.07% last year. This is higher than the long term average of 4.19%.

What Is the Current Prime Rate? As of May 20, 2024, the current prime rate is 8.50%, according to The Wall Street Journal's Money Rates table. This source aggregates the most common prime rates charged throughout the U.S. and in other countries. The federal funds rate is currently 5.25% to 5.50%.

A 15% APR is good for credit cards and personal loans, as it's cheaper than average. On the other hand, a 15% APR is not good for mortgages, student loans, or auto loans, as it's far higher than what most borrowers should expect to pay. A 15% APR is good for a credit card. The average APR on a credit card is 22.89%.

Lenders charge a lower interest rate for 15-year loans because it's easier to make predictions about repayment over a 15-year horizon than it is over a 30-year horizon. Another reason for the savings? Home buyers are borrowing the money for half the time, which dramatically reduces the cost of borrowing.

The good news: With the U.S. Federal Reserve widely expected to begin cutting its benchmark interest rate in 2024, mortgage rates could drop as well—at least slightly. But that doesn't necessarily mean a return to the pre-pandemic era of more affordable mortgages and home prices.

Overnight Federal Funds Rate is at 5.33%, compared to 5.33% the previous market day and 5.08% last year.

Choosing between a CD and Treasuries depends on how long of a term you want. For terms of one to six months, as well as 10 years, rates are close enough that Treasuries are the better pick. For terms of one to five years, CDs are currently paying more, and it's a large enough difference to give them the edge.

What is the yield on a 6 month treasury bill? ›

Basic Info. 6 Month Treasury Rate is at 5.42%, compared to 5.42% the previous market day and 5.44% last year. This is higher than the long term average of 2.84%. The 6 Month Treasury Bill Rate is the yield received for investing in a US government issued treasury security that has a maturity of 6 months.

To calculate the price, take 180 days and multiply by 1.5 to get 270. Then, divide by 360 to get 0.75, and subtract 100 minus 0.75. The answer is 99.25. Because you're buying a $1,000 Treasury bill instead of one for $100, multiply 99.25 by 10 to get the final price of $992.50.

Generally, the prime rate is about 3 percent higher than the federal funds rate. That means that when the Fed raises interest rates, the prime rate also goes up. The prime rate is the rate at which individual banks and credit unions lend to their customers, including large corporations.

What was the highest prime rate? The highest prime rate was 21.5%, reached on December 19, 1980.

Here is an example: $15 is 15% of the $100 borrowed. The APR is the annual percentage rate, so 15% must be multiplied by the number of days in a year: .15(365) = 54.75.

At the end of each day, the credit card company multiplies the current balance on your account by the daily rate. That daily interest charge is added to your balance the next day. For example, let's say you have a credit card with an APR of 15%. Your daily rate would be 0.041% (15% divided by 365).

A 15-year fixed mortgage is a home loan with a fixed interest rate for the life of the loan. As a result, homeowners pay the same principal and interest payment amount each month, unlike an adjustable-rate mortgage whose interest rate could change annually, drastically changing a borrower's monthly payment.

Higher interest rates can make borrowing money more expensive for consumers and businesses, while also potentially making it harder to get approved for loans. On the positive side, higher interest rates can benefit savers as banks increase yields to attract more deposits.