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
SoFi is an online lender that offers student loan refinancing, parent loans and private student loans for undergraduates and graduates.
LendKey allows borrowers to compare multiple student loan offers at once.
Citizens Bank offers student loans with competitive interest rates and multiyear approval and refinance options with longer repayment terms.
PenFed offers low APRs and fast funding on personal loans from $600 to $35,000, and it doesn’t charge origination fees or a prepayment penalty.
With a nationwide footprint and a large branch network, U.S Bank offers loan options for drivers buying new and used or those looking to refi their current loan
Rates, fees, terms and other important details aren't available until you prequalify - but it may be worth the time.
Happen Bank offers an auto loan refinancing option for good-credit borrowers.
Gravity is an auto loan marketplace enabling borrowers to compare top refinance offers online and in minutes.
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