SOFR Averages and SOFR Index

Daily SOFR is an overnight rate; most contracts need a rate for a month, a quarter or longer. The Federal Reserve Bank of New York publishes four series that do the compounding: the 30-, 90- and 180-day Average SOFR and the SOFR Index. This page carries the published history since March 2, 2020 from the site's snapshot of New York Fed data, explains what each series contains, and shows how to compound SOFR over a period of your own.

The three lines carry the same daily SOFR prints over windows of different length. When the Federal Reserve moves the target range, the 30-day line turns first and the 180-day line last; the gap between them is a measure of how recently rates changed. After the 25 bp increase in the target range effective September 17, 2026, the 30-day average went from 3.64783% on September 17 to 3.81569% on October 9, 2026.

Recent published values

Read each row by its date: the values dated October 9, 2026 were published that morning and contain SOFR through the October 8 print. There is no row for a weekend or a SIFMA full-closure holiday, because nothing is published for those days; the SOFR from the business day before covers them.

What each series is

30-day Average SOFR

Compounded SOFR over the 30 calendar days ending on the publication date. With roughly 21 business days in the window, a single unusual print, such as a month-end or quarter-end rate, moves it more than the longer averages. Its record high in the snapshot is 5.35353%, first published on August 8, 2024. At the low end it was 0.01% on 48 publication dates between April 12 and June 17, 2021.

90-day Average SOFR

The same calculation over 90 calendar days, about a quarter. Its window matches a quarterly interest period. It peaked at 5.37097% on September 19, 2024 and bottomed at 0.01% on seven dates from June 9 to June 17, 2021.

180-day Average SOFR

Six months of compounding. It is the slowest of the three and never fell as low as the shorter averages: its low was 0.02445% on August 3 and 4, 2021, and its high 5.39812% on September 19, 2024. The New York Fed rounds all three averages to the fifth decimal place, in percent.

SOFR Index

The Index is the value of one unit of cash invested at SOFR on April 2, 2018, the first SOFR value date, and compounded every business day since. It starts at 1.00000000 and is published to eight decimal places. The first official value, 1.04085026, appeared on March 2, 2020 and already reflected nearly two years of compounding.

The Index's growth rate tracks the rate regime. It took until September 29, 2022 to reach 1.05, four and a half years after the base date, much of it at near-zero rates. The next 0.05 took one year: it crossed 1.10 on October 2, 2023. It passed 1.20 on June 26, 2025 and 1.25 on July 8, 2026. The latest value, 1.26208139, means cash compounded at SOFR since April 2, 2018 has grown by about a quarter.

How the averages are calculated

All four series use the compounding convention in the New York Fed's reference rate methodology: interest compounds on business days only; over weekends and holidays the preceding business day's SOFR earns simple interest for each calendar day; the year is 360 days.

Average = [ Π (1 + SOFRᵢ × nᵢ / 360) − 1 ] × 360 / d_c

SOFRᵢ  the SOFR print for business day i, as a decimal (3.87% = 0.0387)
nᵢ     days that print accrues (usually 1; 3 over a weekend)
d_c    window length: 30, 90 or 180 calendar days

The window starts exactly 30, 90 or 180 calendar days before the publication date, even when that day is a weekend or holiday, and runs through the SOFR published that morning. When the start date is a Saturday, the Friday rate applies for two days of the window; when it is a Sunday, for one.

Publication timing and revisions

• WhenEvery business day, shortly after SOFR itself is published at about 8:00 a.m. ET, including SIFMA early-close days.
• RevisionsOnly on the same day, at about 2:30 p.m. ET, and only if that day's SOFR was revised or a calculation error was found.
• HistoryOfficial values start on March 2, 2020; the New York Fed's indicative values for earlier dates are not official rates.

Compounded SOFR by year, from the Index

Because the Index is cumulative, the ratio of any two values gives compounded SOFR between their dates. The table applies that to each year in the published series, from the first Index value of one year to the first of the next. It is a better answer to "what did SOFR pay in 2025" than the mean of daily prints in the annual history table, because it compounds and weights weekends correctly.

Computing compounded SOFR for your own period

1. Fix the start and end dates of the period. If the contract uses an observation shift, use the shifted dates.
2. Look up the Index for each date itself, not the day before. The Index dated on the end date already includes SOFR through the previous business day, which is the last day of accrual.
3. Divide end by start and subtract 1 for the growth factor; multiply by the principal for interest.
4. For a rate, multiply the growth by 360 and divide by the calendar days between the two dates.

The SOFR Index calculator does these steps for any two published dates and checks the answer against daily compounding. Two cases need the compounded SOFR calculator instead: a lookback without observation shift, and a lockout. In both, the rate weights or the rates themselves differ from the Index's, so no pair of Index values reproduces them. The averages versus Index guide covers when a contract should use each series.

Related tools and guides

• SOFR Index calculatorCompounded SOFR between any two dates from the New York Fed's published SOFR Index.
• Compounded SOFR calculatorCompound daily SOFR in arrears with lookback, observation shift or lockout conventions.
• SOFR Averages vs SOFR IndexWhen to use a published average and when to compute from the index.
• Compounding in arrears conventionsLookback, observation shift, lockout and payment delay explained with worked numbers.
• SOFR historyEvery SOFR observation since April 2018, summarized by year with links to daily tables.
• Floating-rate loan calculatorPayment schedule for a loan priced at SOFR plus a margin, with floors and rate paths.
• The LIBOR to SOFR transitionHow U.S. dollar LIBOR ended and what replaced it, with the key dates.