Why Now Is The Best Time To Get a Mortgage, Car Loan, Low-Interest Credit Card
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Cardholder Benefits » Why Now Is The Best Time To Get a Mortgage, Car Loan, Low-Interest Credit Card

Why Now Is The Best Time To Get a Mortgage, Car Loan, Low-Interest Credit Card

Updated: February 5, 2016

Add to Favorites:
If you’re in the market for a car, home or luxury money, then now is a record time to get a loan. The Federal Reserve reduced interest rates, now they are at an all time low. Good news for those looking to carry a credit card with no balance, bad news for savers who see very little to no growth on their money in their savings or CD accounts. So, it really is good news for the credit card world. The Federal Reserve announced last month it will be locking in interest rates near 0% until the middle of 2013 for short-term loans. Many analysts believe that the Fed will increase these low interest rates to long-term loans as well in order to stimulate the American economy. Thirty-year fixed mortgages rates fell down to 4.1% in September, which is a record low for 30-year mortgages. But consumers aren’t taking advantage of the options before them, credit card issuers also reported in September when mortgage rates were at an all time low, that there was also a 5% reduction in applications. This could be because consumers have been digging their way out of the credit card debt and loan debt that they acquired pre-recession. But for the savvy consumer, now is the perfect time to pick up a new car loan, low-interest credit card or mortgage, because interest rates will not be this low for years to come. The better your credit is, the more companies will bend over to get your attention. It isn’t all glitter and gold in the world of low-interest loans. Consumers may take out to many loans and credit cards on the false pretense that these offers will last forever. This can have a negative effect on your credit score, when the interest rates change and you find it hard to pay back the balances. Be careful of overextending your credit reach in this beautiful borrowers market. Pay attention to the fine print and know when the interest rates on your loan or low-interest credit card will change. Even though the market is good for borrowers, savers can still benefit. Some online banks are offering low-risk and risk-free yields on savings accounts.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

5 Reasons to Get the Capital One Venture Miles Rewards Card

By Herbert Moore, Posted: January 18, 2017

If you’re looking for a great travel rewards credit card—one that offers unlimited earning opportunities, flexible redemption, and lots of perks—look no further. This card from Capital One has you covered. Continue reading

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading

Credit Cards to Save More on Holiday Shopping

By Herbert Moore, Posted: November 22, 2016

Discounts and special offers are available all year round. Werther you are a bargain hunter or an impulse buyer, make sure you check online discounts and special offers. Also, if you are a cardholder, see if your credit card opens the door ... Continue reading