How the Federal Reserve impacts personal loans
The Federal Reserve just lowered interest rates for the first time in four years.
The better you understand how loans work and how lenders think, the better equipped you are to save on your loan.
— Pippin Wilbers
About the author
Pippin Wilbers is a Bankrate editor. He joined the personal loans team in 2024, though he's also contributed work on the auto loans, credit cards, student loans and small business loan verticals. Pippin is passionate about demystifying complex topics, such as car financing or finding the best personal loan, and helping borrowers stay up-to-date in a changing and challenging borrower environment.
Pippin stays on top of industry news sources, such as TransUnion and Experian. Working with reporters Hanneh Bareham and Denny Ceizyk, he analyzes industry data and trends and asks: "What does this mean for borrowers?"
Pippin lives in Denver. Before joining Bankrate, he brought vital news to his community as a small-town newspaper reporter. In his spare time, he enjoys foraging for mushrooms, reading, and dabbling in amateur entomology.
The better you understand how loans work and how lenders think, the better equipped you are to save on your loan.
— Pippin Wilbers
The Federal Reserve just lowered interest rates for the first time in four years.
An APR is a snapshot of how much your personal loan will cost each year.
Shopping around is the best way to get a car loan at a lowest possible rate.
People with bad credit may be able to qualify for certain types of bad credit loans.
It doesn’t take long at all to complete an application or receive your loan.
Home equity loans or balance transfer cards may be a better way to consolidate debt.
If you plan to get a debt consolidation loan with poor credit, take these steps.
Here’s how to minimize the amount of time you stay with negative equity.
Making a plan to manage your loan will set you up for success.