Federal Prime Rate
3.25% as of May 10, 2021
The U.S. Federal Prime Rate is a commonly used, short-term interest rate in the banking system of the United States. All types of American lending institutions (traditional banks, credit unions, wholesale lenders, thrifts, and private lenders) use the U.S. Prime Rate as an index or foundation rate for pricing various short, medium, and long-term mortgage products. Adworx Financial prices loans using the Federal Prime Rate as a benchmark, adding or deducting margin based upon the property type, income, and overall stability of the asset. Adworx Financial structures and packages loans, including rate and terms, then sells or brokers these loans to the most competitive lender, who either meets, beats, or counter-offers our asking rate and terms.