4 Week Treasury Bill Rate Market Daily Analysis: H.15 Selected Interest Rates (2024)

FAQs

What is the h15 release? ›

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.

Basic Info. Effective Federal Funds Rate is at 5.33%, compared to 5.33% the previous market day and 4.83% last year.

The current Bank of America, N.A. prime rate is 8.50% (rate effective as of July 27, 2023).

The interest rate is determined by the interaction of the demand and supply of loanable funds. (See the text for references to factors that will shift the demand and supply.) 1. Increases in demand will increase both the interest rate and the total amount of borrowing and lending.

ABSTRACT: The H. 15 statistical release is a data publication containing daily interest rates for selected U.S. government and Federal Reserve series. Data includes the Effective Federal Funds Rate, 10-Year Treasury Constant Maturity Rate, and 3-Month Treasury Bill: Secondary Market Rate.

Mortgage rates are expected to decline later this year as the U.S. economy weakens, inflation slows and the Federal Reserve cuts interest rates. The 30-year fixed mortgage rate is expected to fall to the mid- to low-6% range through the end of 2024, potentially dipping into high-5% territory by early 2025.

The Fed sets a “target” rate

Eight times a year, the Federal Open Market Committee (FOMC) — a group of people from the Fed in charge of setting monetary policy — gets together to decide what the ideal federal funds rate should be, based on how healthy the economy is (more on this in a minute).

How Does the Fed Funds Rate Affect Treasury Yields? Bonds and interest rates have an inverse relationship: When rates rise, bond prices decrease, and when rates decline, bonds go up. This is because many Treasury bonds offer a fixed-rate coupon.

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

The Wells Fargo Prime Rate is 8.50% as of 07/27/2023.

What is the prime rate prediction for 2024? ›

Borrowers who are eager to enjoy the present use of funds show a stronger time preference for current goods over future goods. They are willing to pay a higher interest rate for loaned funds.

The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy. The Federal Reserve controls the three tools of monetary policy--open market operations, the discount rate, and reserve requirements.

Bonds have an inverse relationship to interest rates. When the cost of borrowing money rises (when interest rates rise), bond prices usually fall, and vice-versa.

The current federal funds rate — a range of 5.25% to 5.50% — is a result of the Fed lifting interest rates in an effort to cool down the economy and inflation, which soared in the aftermath of the Covid-19 pandemic.

US Prime Rate Forecast is at 5.76%, compared to 5.76% last quarter and 5.76% last year. This is lower than the long term average of 5.82%.