Odds Now At 100% (Certain) The U.S. Prime Rate Will Rise To At Least 6.75% After The November 2, 2022 FOMC Monetary Policy Meeting

Prime Rate Prediction

Prime Rate Forecast

As of right now, our odds are at 100% (certain) the Federal Open Market Committee (FOMC) will vote to raise the target range for the benchmark fed funds rate, from the current 3.00% - 3.25%, to at least   3.50% - 3.75%, at the November 2^ND, 2022 monetary policy meeting, with the U.S. Prime Rate (a.k.a Fed Prime Rate) rising to at least 6.75%, with the possibility of an increase to 7.00%.

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Used-Home Prices Appear to Have Peaked

After hitting a record-high of $413,800 in June, the cost of a previously owned home has been easing.  The July, 2022 price was $399,200, while the August reading was $389,500.

Currently, many are predicting that a recession is in the offing. Stay tuned for upcoming data on newly built and existing homes, as those reading may offer more evidence that the Fed's actions to kill inflation are already kicking in...

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The United States Prime Rate was raised to the current 6.25% on September 21^ST, 2022.

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NB: U.S. Prime Rate = (The Fed Funds Target Rate + 3)

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Current Odds

• Current odds the U.S. Prime Rate will rise to at least 6.75% after the November 2^ND, 2022 FOMC monetary policy meeting, with the possibility of an increase to 7.00%: 100% (certain.)
  
  

• NB: United States Prime Rate = (The Fed Funds Target Rate + 3)

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