Historical Year Data · 2007
Bank Prime Loan Rate in 2007
Bank Prime Loan Rate opened 2007 at 8.25% and closed at 7.25%, a -12.12% move for the year. The high of 8.25% was reached on January 2, and the low of 7.25% on December 11.
Open
8.25%
2007-01
Close
7.25%
251 data points
High
8.25%
Jan 2
Low
7.25%
Dec 11
Full Year Change
-12.12%
2006 Change
+13.79%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 8.25% | 8.25% | 8.25% | 8.25% | +0.00% |
| Feb | 8.25% | 8.25% | 8.25% | 8.25% | +0.00% |
| Mar | 8.25% | 8.25% | 8.25% | 8.25% | +0.00% |
| Apr | 8.25% | 8.25% | 8.25% | 8.25% | +0.00% |
| May | 8.25% | 8.25% | 8.25% | 8.25% | +0.00% |
| Jun | 8.25% | 8.25% | 8.25% | 8.25% | +0.00% |
| Jul | 8.25% | 8.25% | 8.25% | 8.25% | +0.00% |
| Aug | 8.25% | 8.25% | 8.25% | 8.25% | +0.00% |
| Sep | 8.25% | 7.75% | 8.25% | 7.75% | -6.06% |
| Oct | 7.75% | 7.50% | 7.75% | 7.50% | -3.23% |
| Nov | 7.50% | 7.50% | 7.50% | 7.50% | +0.00% |
| Dec | 7.50% | 7.25% | 7.50% | 7.25% | -3.33% |
Events During 2007
2008 Financial Crisis
Deflation
September 2007 – March 2009
The 2008 Financial Crisis remains the deepest and most instructive market event of the 21st century. Subprime losses cascaded through leveraged balance sheets, froze interbank lending, and forced unprecedented central bank intervention.
2006 US Housing Market Peak
Goldilocks
June 2006 – February 2007
US home prices peaked in summer 2006 after a 106% rally from 2000. Subprime mortgage underwriting collapsed in late 2006, setting up the 2008 crisis. The peak is the canonical example of a market top visible only in retrospect.
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