{"id":2214,"date":"2017-09-08T23:25:27","date_gmt":"2017-09-09T06:25:27","guid":{"rendered":"http:\/\/fastforwardstory.com\/?p=2214"},"modified":"2017-09-10T13:00:05","modified_gmt":"2017-09-10T20:00:05","slug":"what-is-prime","status":"publish","type":"post","link":"http:\/\/titlecompanywebdesign.com\/southwesternabstracttitle\/what-is-prime\/","title":{"rendered":"What Is &#8220;Prime&#8221;?"},"content":{"rendered":"<p><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<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%;\">\n<div class=\"wistia_embed wistia_async_sg9uhpto29 videoFoam=true\" style=\"height:100%;width:100%\">&nbsp;<\/div>\n<\/div>\n<\/div>\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>&nbsp; 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[19],"tags":[14],"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 v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Is &quot;Prime&quot;? - Las Cruces, NM | Southwestern Abstract &amp; Title Co.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/titlecompanywebdesign.com\/southwesternabstracttitle\/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;? - Las Cruces, NM | Southwestern Abstract &amp; Title Co.\" \/>\n<meta property=\"og:description\" content=\"&nbsp; 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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