Prime rate, Bank of Israel rate & average mortgage rates
Prime rate
4.75%
Bank of Israel rate + 1.5%
Bank of Israel rate
3.25%
As of Oct 31, 2026
Updated daily from the Bank of Israel · data as of Oct 31, 2026.
- Last change: -0.25% on Sep 3, 2026
- Next rate decision: Nov 23, 2026
Bank of Israel rate and prime over time
Bank of Israel rate decisions
| Decision date | Bank of Israel rate | Prime | Change | Source |
|---|---|---|---|---|
| Oct 21, 2026 | 3.25% | 4.75% | Unchanged | BoI press release Oct 21, 2026 |
| Sep 1, 2026 | 3.25% | 4.75% | -0.25% | BoI press release Sep 1, 2026 |
| Jul 6, 2026 | 3.50% | 5.00% | -0.25% | BoI press release Jul 6, 2026 |
| May 25, 2026 | 3.75% | 5.25% | -0.25% | BoI press release May 25, 2026 |
| Mar 30, 2026 | 4.00% | 5.50% | Unchanged | BoI press release Mar 30, 2026 |
| Feb 23, 2026 | 4.00% | 5.50% | Unchanged | BoI press release Feb 23, 2026 |
| Jan 5, 2026 | 4.00% | 5.50% | -0.25% | BoI press release Jan 5, 2026 |
| Nov 24, 2025 | 4.25% | 5.75% | -0.25% | BoI press release Nov 24, 2025 |
| Sep 29, 2025 | 4.50% | 6.00% | Unchanged | BoI press release Sep 29, 2025 |
| Aug 20, 2025 | 4.50% | 6.00% | Unchanged | BoI press release Aug 20, 2025 |
| Jul 7, 2025 | 4.50% | 6.00% | Unchanged | BoI press release Jul 7, 2025 |
| May 26, 2025 | 4.50% | 6.00% | Unchanged | BoI press release May 26, 2025 |
| Apr 7, 2025 | 4.50% | 6.00% | Unchanged | BoI press release Apr 7, 2025 |
| Feb 24, 2025 | 4.50% | 6.00% | Unchanged | BoI press release Feb 24, 2025 |
| Jan 6, 2025 | 4.50% | 6.00% | Unchanged | BoI press release Jan 6, 2025 |
| Nov 25, 2024 | 4.50% | 6.00% | Unchanged | BoI press release Nov 25, 2024 |
| Oct 9, 2024 | 4.50% | 6.00% | Unchanged | BoI press release Oct 9, 2024 |
| Aug 28, 2024 | 4.50% | 6.00% | Unchanged | BoI press release Aug 28, 2024 |
| Jul 8, 2024 | 4.50% | 6.00% | Unchanged | BoI press release Jul 8, 2024 |
| May 27, 2024 | 4.50% | 6.00% | Unchanged | BoI press release May 27, 2024 |
| Apr 8, 2024 | 4.50% | 6.00% | Unchanged | BoI press release Apr 8, 2024 |
| Feb 26, 2024 | 4.50% | 6.00% | Unchanged | BoI press release Feb 26, 2024 |
| Jan 1, 2024 | 4.50% | 6.00% | -0.25% | BoI press release Jan 1, 2024 |
| Nov 27, 2023 | 4.75% | 6.25% | Unchanged | BoI press release Nov 27, 2023 |
| Oct 23, 2023 | 4.75% | 6.25% | Unchanged | BoI press release Oct 23, 2023 |
| Sep 4, 2023 | 4.75% | 6.25% | Unchanged | BoI press release Sep 4, 2023 |
| Jul 10, 2023 | 4.75% | 6.25% | Unchanged | BoI press release Jul 10, 2023 |
Average mortgage rates by track
Fixed, not indexed
4.62%
Fixed, CPI-indexed
3.29%
Variable, CPI-indexed
3.19%
Benchmark 1.64% + margin 1.55%
On CPI-indexed tracks the rate comes on top of inflation: the balance grows with the CPI.
The Bank of Israel does not publish an average rate for the prime or the variable non-indexed track in its open data, so they are not shown here. On a prime track your rate is prime (4.75%) plus or minus the margin your bank offers.
Average rates over the last 12 months
Where rates are expected to go
Expected inflation by year
- Year 1
- 2.00%
- Year 2
- 2.10%
- Year 3
- 2.10%
- Years 4-5
- 1.87%
- Years 6-10
- 1.93%
Year 1: the Research Department forecast. Later years: forward inflation expectations derived from the capital market, as published by the Bank of Israel for September 2026.
The expected rate is a straight line from today's rate to the forecast, then held. This is the path the mortgage calculator uses when you turn on "Bank of Israel forecast". A forecast, not a promise.
What it means for you
What is the prime rate?
Prime is Israeli banks' base rate for shekel loans. It is always 1.5% above the Bank of Israel rate, so it moves with it.
How does a rate change affect a mortgage?
On a prime track the rate follows every Bank of Israel change. For example, on a ₪500,000 mortgage over 25 years at prime, each 0.25% change moves the monthly payment by about ₪72.
On fixed tracks the rate is set when you take the loan and never changes, so a rate decision does not change the payment on a loan you already have.
Frequently Asked Questions
Sources
- Rate decisions: Bank of Israel press releases
- Bank of Israel rate: daily series MNT_RIB_BOI_D (Bank of Israel statistics API)
- Average rates: Bank of Israel statistics series, "Interest rates and business volume – housing loans" (new mortgages, total banking system)
- Average mortgage rates on the Bank of Israel website
Updated daily from the Bank of Israel · data as of Oct 31, 2026.
For illustration only, not advice. The rate you get depends on the bank, the loan-to-value ratio, the term and your profile.