FRED Graph

Source: Bankrate, LLC  

Release: Bankrate Monitor (BRM) National Index

Units:  Percent, Not Seasonally Adjusted

Frequency:  Weekly, As of Thursday

This series reflects the national average Annual Percentage Rate (APR) on new credit card offers.

The Bankrate Monitor (BRM) National Index is a weekly index that tracks interest rate trends for a range of financial products including deposit accounts, loans, mortgages and credit cards. The index is intended to offer consumers an apples to apples view of interest rate trends over time. The Bankrate market analysis team conducts a weekly survey of the 50 largest credit card issuers in the US ranked by total receivables, an industry standard measure. The credit card interest rates are calculated assuming a 700 FICO score when disclosed, otherwise as the average midpoint of the APR range. Copyright Bankrate, LLC. Bankrate Credit card APR

Source: Board of Governors of the Federal Reserve System (US)  

Release: H.15 Selected Interest Rates  

Units:  Percent, Not Seasonally Adjusted

Frequency:  Monthly

Averages of daily figures.

For additional historical federal funds rate data, please see Daily Federal Funds Rate from 1928-1954.

The federal funds rate is the interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight. When a depository institution has surplus balances in its reserve account, it lends to other banks in need of larger balances. In simpler terms, a bank with excess cash, which is often referred to as liquidity, will lend to another bank that needs to quickly raise liquidity. (1) The rate that the borrowing institution pays to the lending institution is determined between the two banks; the weighted average rate for all of these types of negotiations is called the effective federal funds rate.(2) The effective federal funds rate is essentially determined by the market but is influenced by the Federal Reserve as it uses the Interest on Reserve Balances rate to steer the federal funds rate toward the target range.(2)

The Federal Open Market Committee (FOMC) meets eight times a year to determine the federal funds target range. The Fed's primary tool for influencing the federal funds rate is the interest the Fed pays on the funds that banks hold as reserve balances at their Federal Reserve Bank, which is the Interest on Reserves Balances (IORB) rate. Because banks are unlikely to lend funds in the federal funds market for less than they get paid in their reserve balance account at the Federal Reserve, the Interest on Reserve Balances (IORB) is an effective tool for guiding the federal funds rate. (3) Whether the Federal Reserve raises or lowers the target range for the federal funds rate depends on the state of the economy. If the FOMC believes the economy is growing too fast and inflation pressures are inconsistent with the dual mandate of the Federal Reserve, the Committee may temper economic activity by raising the target range for federal funds rate, and increasing the IORB rate to steer the federal funds rate into the target range. In the opposing scenario, the FOMC may spur greater economic activity by lowering the target range for federal funds rate, and decreasing the IORB rate to steer the federal funds rate into the target range. (3) Therefore, the FOMC must observe the current state of the economy to determine the best course of monetary policy that will maximize economic growth while adhering to the dual mandate set forth by Congress. In making its monetary policy decisions, the FOMC considers a wealth of economic data, such as: trends in prices and wages, employment, consumer spending and income, business investments, and foreign exchange markets.

The federal funds rate is the central interest rate in the U.S. financial market. It influences other interest rates such as the prime rate, which is the rate banks charge their customers with higher credit ratings. Additionally, the federal funds rate indirectly influences longer- term interest rates such as mortgages, loans, and savings, all of which are very important to consumer wealth and confidence.(2)

References
(1) Federal Reserve Bank of New York. "Federal funds." Fedpoints, August 2007.
(2) Monetary Policy, Board of Governors of the Federal Reserve System.
(3) The Fed Explained, Board of Governors of the Federal Reserve System

For further information, see The Fed's New Monetary Policy Tools, Page One Economics, Federal Reserve Bank of St. Louis.

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Source: Bankrate, LLC  

Release: Bankrate Monitor (BRM) National Index

Units:  Percent, Not Seasonally Adjusted

Frequency:  Weekly, As of Thursday

This series measures the national average interest rate for Home Equity Lines of Credit (HELOCs).

The Bankrate Monitor (BRM) National Index is a weekly index that tracks interest rate trends for a range of financial products including deposit accounts, loans, mortgages and credit cards. The interest rates that comprise the index are collected by Bankrate’s market analysis team each week, using a consistent methodology as far back as the early 1980s. The index is intended to offer consumers an apples to apples view of interest rate trends over time. The Bankrate market analysis team conducts a weekly survey of the 10 largest institutions (a combination of banks and thrifts) in the same 10 large US markets each week. The rates are calculated as an average, with bank and thrift rates weighted equally to account for the difference between bank and thrift rates for the same financial products, in the same markets. For the BRM home equity rates, interest rates are collected as defined above based on no existing relationship or automatic payments. The customer profile also includes: 700 FICO, 30K loan/line amount, 80 percent LTV, Existing single-family detached home, Primary residence. Copyright Bankrate, LLC. Bankrate Home equity line of credit (HELOC) rate

Source: Bankrate, LLC  

Release: Bankrate Monitor (BRM) National Index

Units:  Percent, Not Seasonally Adjusted

Frequency:  Weekly, As of Thursday

This series represents the national average interest rate for unsecured personal loans.

The Bankrate Monitor (BRM) National Index is a weekly index that tracks interest rate trends for a range of financial products including deposit accounts, loans, mortgages and credit cards. The interest rates that comprise the index are collected by Bankrate’s market analysis team each week, using a consistent methodology as far back as the early 1980s. The index is intended to offer consumers an apples to apples view of interest rate trends over time. The Bankrate market analysis team conducts a weekly survey of the 10 largest institutions (a combination of banks and thrifts) in the same 10 large US markets each week. The rates are calculated as an average, with bank and thrift rates weighted equally to account for the difference between bank and thrift rates for the same financial products, in the same markets. For the BRM 3-year unsecured personal loan rates, rates are collected as defined above based on no existing relationship or automatic payments. The customer profile also includes: 700 FICO, $5K loan amount, 3-year repayment plan. Copyright Bankrate, LLC. Bankrate">https://www.bankrate.com/data-center/personal-loan/"">Bankrate Unsecured personal loan rate