How the Federal Reserve impacts personal loans
The Federal Reserve held rates steady at its January 2026 meeting.
Pippin Wilbers is a former Bankrate editor and a Certified Credit Counselor™. He joined the Bankrate team in 2021 and works on helpful content about banks, consumer loans and mortgages. Pippin is passionate about helping borrowers stay up-to-date and feel empowered to make the best choices in a changing and challenging borrower environment.
Pippin stays on top of industry news sources, such as TransUnion and Experian. Working with Bankrate's skilled reporters, he analyzes industry data and the latest political moves and asks: "What does this mean for borrowers?"
Pippin lives in Denver. Before joining Bankrate, he brought vital news to his Missouri community as a small-town newspaper reporter. In his spare time, he enjoys foraging for mushrooms, reading and dabbling in amateur entomology.
It's a strange time for consumer finances, with the Fed lowering rates under political pressure while both inflation and mortgage rates stay stubbornly high. Even the experts have a tough time predicting what will happen next. But the fundamentals of personal finance haven't changed: Put your savings in the highest-yielding account you can find, keep your credit spending as low as you can and compare before you commit to any credit product.
The better you understand how loans work and how lenders think, the better equipped you are to save on your loan.
— Pippin Wilbers
PenFed and SoFi are two highly ranked lenders that offer personal loans with competitive rates. The major difference between the two is cost and speed. You may be funded a little more quickly with SoFi, [...]
There isn’t a best boat lender, but certain ones can meet your needs more than others.
Emergency loans are available within one to three business days after applying.
Should you buy or rent an RV? It depends on your travel plans.
Private loans for college vary in cost — compare before applying.
Learn how to use a short-term business loan for your small business funding needs.
Current student loans news for 6/21/2024
What happens to your debt after you die? Bankrate explains.
We appreciate your feedback
Thank you for taking the time to share your experience.