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

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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

The content is accurate at the time of publication and is subject to change.
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.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related Research:

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Posted: February 10, 2021

Citi, a Credit-Land.com advertising partner, offers the Citi Premier® Card, which gives elevated ThankYou points for your travel expenses and, with the recent update of the rewards program, for purchases at restaurants, supermarkets, and… Continue reading

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Posted: February 10, 2021

Many travel credit cards come with tempting perks, requiring some effort bonuses, a complicated rewards structure, and steep annual fees. The Discover it® Miles is probably the best Discover card for travel, especially if you do not travel… Continue reading

Top 5 Secured Credit Cards: July 2021 – Experts’ Choice

Top 5 Secured Credit Cards: July 2021 – Experts’ Choice

Posted: October 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!