In real estate and finance, 'FLOAT' refers to the period between a transaction (such as a deposit or withdrawal) and the time it's credited or deducted, the difference between a variable interest rate and its pegged index, and the act of incurring a debt through loans or bonds.
The prime rate is the lowest commercial interest rate charged by banks on short-term loans to their most creditworthy customers. It significantly influences other rates, including those for mortgages and consumer loans.
