Where can I find prime rate for 401(k) loans?

[Guest Blueglass]

My plan sponsor informed me that the loan interest rate is prime rate plus one percent. Where can I find the prime rate on the internet? Also, how is the prime rate determined? Thank you

[Harwood]

http://www.federalreserve.gov/releases/H15/

[Guest rmeigs]

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

[Guest Blueglass]

What it means: The initials stand for the Wall Street Journal, which surveys large banks and publishes the consensus prime rate. It's the most widely quoted measure of the prime rate, which is the rate at which banks will lend money to their most-favored customers. The prime rate will move up or down in lock step with changes by the Federal Reserve Board.

How it's used: The prime rate is an important index used by banks to set rates on many consumer loan products, such as credit cards or auto loans. If you see that the prime rate has gone up, your variable credit card rate will soon follow.

(found this off the website you provided me...thank you!!)