U.S. interest rates and Treasury yields

Fed funds rate

+0.12 pt Sep 2026 vs. Aug 2026

The federal funds rate is the interest rate banks charge each other for overnight loans. The Federal Reserve steers it toward a target range to cool or support the economy; this series is the monthly average of the actual (effective) rate.

Fed target rate (upper)

0.00 pt Oct 27, 2026 vs. Oct 26, 2026

This is the top of the federal funds target range set by the Federal Open Market Committee (FOMC). It changes only on the days the Fed decides to raise or cut rates, and starts in December 2008, when the Fed began setting a range instead of a single target.

Prime rate

0.00 pt Oct 26, 2026 vs. Oct 23, 2026

The prime rate is the base rate banks post for short-term business loans, and many credit cards and home equity lines are priced off it. It usually sits 3 percentage points above the top of the Fed's target range.

3-month Treasury bill

+0.01 pt Oct 26, 2026 vs. Oct 23, 2026

The 3-month Treasury bill rate is what investors earn on very short-term loans to the U.S. government. It tracks the Fed's policy rate closely and is a common benchmark for money market yields.

2-year Treasury yield

-0.01 pt Oct 26, 2026 vs. Oct 23, 2026

The 2-year Treasury yield reflects where investors expect the Fed's policy rate to be over the next couple of years. When it rises above the 10-year yield, the yield curve is said to be inverted.

10-year Treasury yield

0.00 pt Oct 26, 2026 vs. Oct 23, 2026

The 10-year Treasury yield is a benchmark for long-term borrowing costs, including mortgage rates. It moves with expectations for growth, inflation and Fed policy over the coming decade.

30-year Treasury yield

-0.02 pt Oct 26, 2026 vs. Oct 23, 2026

The 30-year Treasury yield is the interest rate on the government's longest regular bond. The Treasury stopped issuing 30-year bonds from 2002 to 2006, so this series has a gap in those years.

Fed target rate (lower)

0.00 pt Oct 27, 2026 vs. Oct 26, 2026

This is the bottom of the federal funds target range set by the Federal Open Market Committee. Since December 2008 the Fed has set a range a quarter point wide instead of a single target.

Interest on reserve balances

0.00 pt Oct 28, 2026 vs. Oct 27, 2026

This is the rate the Federal Reserve pays banks on money they keep in their reserve accounts at the Fed. It is one of the main tools the Fed uses to keep the federal funds rate inside its target range.

1-month Treasury yield

0.00 pt Oct 26, 2026 vs. Oct 23, 2026

This is the yield on Treasury bills that mature in one month, at constant maturity. It closely follows the Fed's policy rate.

3-month Treasury yield

0.00 pt Oct 26, 2026 vs. Oct 23, 2026

This is the constant-maturity yield on 3-month Treasury bills, quoted on a bond-equivalent basis. It is slightly different from the 3-month bill rate quoted on a discount basis.

6-month Treasury yield

+0.05 pt Oct 26, 2026 vs. Oct 23, 2026

This is the constant-maturity yield on 6-month Treasury bills. It reflects where investors expect the Fed's policy rate to be over the next half year.

1-year Treasury yield

+0.03 pt Oct 26, 2026 vs. Oct 23, 2026

This is the yield on Treasury securities with one year to maturity, at constant maturity. Some adjustable-rate loans have been tied to it.

5-year Treasury yield

+0.02 pt Oct 26, 2026 vs. Oct 23, 2026

This is the constant-maturity yield on 5-year Treasury notes. Auto loan and some mortgage rates tend to move with medium-term yields like this one.

20-year Treasury yield

-0.02 pt Oct 26, 2026 vs. Oct 23, 2026

This is the constant-maturity yield on 20-year Treasury bonds. The Treasury stopped issuing 20-year bonds in 1986 and brought them back in 2020.

5-year TIPS yield (real)

+0.03 pt Oct 26, 2026 vs. Oct 23, 2026

This is the yield on 5-year Treasury Inflation-Protected Securities, whose principal rises with the CPI. It shows the inflation-adjusted, or real, interest rate investors earn.

10-year TIPS yield (real)

0.00 pt Oct 26, 2026 vs. Oct 23, 2026

This is the yield on 10-year Treasury Inflation-Protected Securities. The gap between the regular 10-year yield and this real yield is a rough market gauge of expected inflation.