KamaKama

Prime rate, Bank of Israel rate & average mortgage rates

Every number on this page comes from the Bank of Israel and shows its date and source. The rates, averages and forecast update automatically from the Bank of Israel every day.

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

Since January 2023, from the Bank of Israel's daily rate series. Dates are when each change took effect, a few days after the decision.

Bank of Israel rate decisions

Monetary Committee decisions, newest first
Decision dateBank of Israel ratePrimeChangeSource
Oct 21, 20263.25%4.75%UnchangedBoI press release Oct 21, 2026
Sep 1, 20263.25%4.75%-0.25%BoI press release Sep 1, 2026
Jul 6, 20263.50%5.00%-0.25%BoI press release Jul 6, 2026
May 25, 20263.75%5.25%-0.25%BoI press release May 25, 2026
Mar 30, 20264.00%5.50%UnchangedBoI press release Mar 30, 2026
Feb 23, 20264.00%5.50%UnchangedBoI press release Feb 23, 2026
Jan 5, 20264.00%5.50%-0.25%BoI press release Jan 5, 2026
Nov 24, 20254.25%5.75%-0.25%BoI press release Nov 24, 2025
Sep 29, 20254.50%6.00%UnchangedBoI press release Sep 29, 2025
Aug 20, 20254.50%6.00%UnchangedBoI press release Aug 20, 2025
Jul 7, 20254.50%6.00%UnchangedBoI press release Jul 7, 2025
May 26, 20254.50%6.00%UnchangedBoI press release May 26, 2025
Apr 7, 20254.50%6.00%UnchangedBoI press release Apr 7, 2025
Feb 24, 20254.50%6.00%UnchangedBoI press release Feb 24, 2025
Jan 6, 20254.50%6.00%UnchangedBoI press release Jan 6, 2025
Nov 25, 20244.50%6.00%UnchangedBoI press release Nov 25, 2024
Oct 9, 20244.50%6.00%UnchangedBoI press release Oct 9, 2024
Aug 28, 20244.50%6.00%UnchangedBoI press release Aug 28, 2024
Jul 8, 20244.50%6.00%UnchangedBoI press release Jul 8, 2024
May 27, 20244.50%6.00%UnchangedBoI press release May 27, 2024
Apr 8, 20244.50%6.00%UnchangedBoI press release Apr 8, 2024
Feb 26, 20244.50%6.00%UnchangedBoI press release Feb 26, 2024
Jan 1, 20244.50%6.00%-0.25%BoI press release Jan 1, 2024
Nov 27, 20234.75%6.25%UnchangedBoI press release Nov 27, 2023
Oct 23, 20234.75%6.25%UnchangedBoI press release Oct 23, 2023
Sep 4, 20234.75%6.25%UnchangedBoI press release Sep 4, 2023
Jul 10, 20234.75%6.25%UnchangedBoI press release Jul 10, 2023

Average mortgage rates by track

Average rate on new mortgages issued in August 2026 across the banking system, per the Bank of Israel.

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

New mortgages, monthly average by track

Where rates are expected to go

The Bank of Israel Research Department forecast published on Oct 21, 2026 expects the Bank of Israel rate to average ⁦3.00%⁩ in Q3 2027, and inflation of ⁦2.00%⁩ over the next four quarters.

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