Where to find the current prime rate?

[blurredvision]

I'm looking for the current prime rate on home loans, and by googling, I've found everything from 6.23% to over 8%. The wife and I are looking into buying a house, and were just pre-approved for a loan today, but trying to figure all this lingo out is mind-boggling.

I'm sure there's an official site out there that lists the current prime rate, so if someone could point me to it, it'd be appreciated.

THANKS!!

 

[TrueBlueLS]

8.25%

 

[HN]

http://www.bankrate.com/brm/ratehm.asp

 

[FoBoT]

it is on the internet
http://www.nfsn.com/library/prime.htm
http://www.bankrate.com/brm/ratewatch/leading-rates.asp

 

[blurredvision]

Hmm, so if the prime rate is 8.25%, how was I able to get 7.75%? It is an adjustable rate loan, maybe this has something to do with it?

 

[FP]

I personally use Bloomberg

 

[BlackOmen]

Originally posted by: blurredvision
Hmm, so if the prime rate is 8.25%, how was I able to get 7.75%? It is an adjustable rate loan, maybe this has something to do with it?

Is this a mortgage? If so, those rates are usually based off of 10 year treasury bill rates. What kind of mortgage? 7.75 is quite high, given that I was just quoted 6.7% on a 30 year mortgage.