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.
Upstart and SoFi are both good lenders, but which one is right for you depends on your circumstances.
Travel costs are going up, but more people want to go on trips. Are vacation loans the way to pay for travels?
If you have fair credit, you still have a chance at qualifying for a personal loan.
Low monthly payments are attractive, but a long RV loan term can add thousands.
Though aging in place renovation costs may be high, there are ways to find funding.
The SAVE plan has met another roadblock.
DTI is your monthly debt divided by your gross monthly income. Here’s what to know.
If you don’t want to pay a company, consider these credit repair alternatives.