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.

Other Cardholder Benefits Research:

Related Research:

How to Get Free Wi-Fi in the Air

By Herbert Moore, Posted: September 28, 2016

Sometimes in-flight Wi-Fi is the bare necessity when you travel abroad or within the country. However not all airlines offer free in-flight Wi-Fi. There is only a couple of airlines that will allow you to use Wi-Fi ... Continue reading

Amazon Credit Cards Review

By Allison Martin, Posted: May 30, 2016

When Amazon.com was launched 20 years ago, few could have envisioned how far the company would come. What was once an online specialty bookstore is now an Internet juggernaut that sells nearly anything and has made major inroads into ... Continue reading

How Much Do Shell Cards Really Save on Gas?

By Allison Martin, Posted: April 20, 2016

There is an endless amount of gas cards on the market, and practically every major gas station, including Shell, has options to choose from. In fact, Shell offers two options for gas cards for consumers. Continue reading