Right time for loan

[moises9485]

Hey,

with the way that the market is going at the moment, Oil prices going up, the cost of living shooting through the roof, is it a good time to get involved in a personal loan, because the government may drop interest rate to alleviate the pressure that has been placed on families?

Cheers

[georgelopez66]

You think way too much about trivial issues, the government will never drop interest rates or cut Petrol Prices they make way to much money of Us!!!!

[jq26]

Interest rate are at historical lows. The fed funds rate is at 0.0-0.25%. There is quite literally nowhere to go but up- at least for loans tied to LIBOR, Fed funds, or Treasury. If anything, the government has been too accomodating. Inflation is on the horizon. Oil usage is down, refinery capacity is in the toilet, and oil prices are still on the verge of making new 52 week highs. Not a good long term sign of price stability.

Personal loans are not necessaily tied to any of these indices. They are generally high risk of loss loans more like credit cards. When the price of money starts to reach double digits, you really have to do a gut check and ask yourself if it is worth it. Most likely- no.