SOFR Rate Today: 3.89% (Nov. 6, 2026) and What It Means
Figures checked November 10, 2026 against primary sources
The Secured Overnight Financing Rate (SOFR) was 3.89% for November 6, 2026, the newest value the Federal Reserve Bank of New York had published when we checked on November 10, 2026. SOFR changes every business day, so treat this figure as a dated snapshot and check the New York Fed for today's number.
Table of Contents
SOFR Today
These are the five newest daily SOFR values from the New York Fed. The date is the day the rate applies to (the "effective date"), not the day it was published.
| Effective date | SOFR | Volume (billions) |
|---|---|---|
| Nov. 6, 2026 | 3.89% | $3,174 |
| Nov. 5, 2026 | 3.92% | $3,256 |
| Nov. 4, 2026 | 3.94% | $3,207 |
| Nov. 3, 2026 | 3.97% | $3,260 |
| Nov. 2, 2026 | 3.95% | $3,268 |
Source: Federal Reserve Bank of New York, SOFR data, retrieved Nov. 10, 2026.
The New York Fed also publishes a spread of the trades behind each day's rate. For November 6, 2026, the 1st percentile was 3.85%, the 25th was 3.87%, the 75th was 3.94% and the 99th was 3.97%. Most of that day's borrowing happened in a narrow band around the published rate.
What SOFR Is
In the New York Fed's words, SOFR "is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities." Put simply, it tracks what large market players pay to borrow money for one night when they pledge U.S. Treasury securities as security for the loan. Those deals are called repurchase agreements, or repos.
SOFR is one of several reference rates the New York Fed runs. The others on its reference-rates list include the Effective Federal Funds Rate and the Overnight Bank Funding Rate, and it also publishes SOFR Averages and a SOFR Index as separate series. For Fed meeting dates and the federal funds target range, see our Fed meeting page.
How It Is Set and Published
The New York Fed says SOFR "is calculated as a volume-weighted median of transaction-level tri-party repo data," along with other Treasury repo trade data. A volume-weighted median is the rate at which half of the day's dollar volume traded higher and half traded lower, so a few unusual trades do not move it much.
On timing, the New York Fed says: "Each business day, the New York Fed publishes the SOFR on the New York Fed website at approximately 8:00 a.m. ET." Each value carries an effective date, the day the rate applies to. When we checked on November 10, 2026, the newest effective date was November 6, 2026.
SOFR Plus a Margin on a Loan
A variable-rate loan quote that reads "SOFR + 2.50%" means the lender adds a fixed margin to a SOFR-based index. Read your loan papers for two things: which SOFR figure is the index (the daily rate, or an average such as a 30-day average) and how often your rate resets.
Illustrative example, not an offer: if the index were 3.89% and the margin 2.50 percentage points, the loan rate before any rounding, floor or cap would be 6.39%. If the index later rose by 0.25 points, the rate would rise by the same 0.25 points at the next reset. Your lender's contract decides the index, rounding, caps and reset dates. For one real-world use, see how private student loan variable rates are tied to SOFR.
We do not forecast SOFR. No one can promise where it will be on your next reset date.
Sources & Methodology
- Daily SOFR values, percentiles and volumes: Federal Reserve Bank of New York, SOFR data (markets data API), retrieved Nov. 10, 2026.
- Definition, calculation method and publication time: Federal Reserve Bank of New York, Secured Overnight Financing Rate Data, retrieved Nov. 10, 2026.
The 6.39% loan figure is our arithmetic (3.89% plus a hypothetical 2.50-point margin), shown for illustration only. When we checked on November 10, 2026, before that day's release, the newest effective date was November 6, 2026. The 3.89% figure is the New York Fed's print for November 6, 2026, not today's rate. For the current value, see the New York Fed's SOFR page.
FAQ
What is the SOFR rate today?
The newest value when we checked on November 10, 2026 was 3.89%, effective November 6, 2026. The New York Fed publishes a new value each business day at about 8:00 a.m. ET.
What does SOFR stand for?
Secured Overnight Financing Rate. It measures the cost of borrowing cash overnight with Treasury securities as collateral.
Who publishes SOFR?
The Federal Reserve Bank of New York, on its website and through its markets data API.
Is SOFR the same as the federal funds rate?
No. The New York Fed publishes the Effective Federal Funds Rate and SOFR as separate reference rates. SOFR is based on overnight loans backed by Treasury securities.
Why is the newest SOFR dated a few days back?
Each value is labelled with its effective date, the day the rate applies to, which is earlier than the day it is published. Check the New York Fed page for the newest value.
General information, not financial advice. Past rates do not predict future rates.
