Consumer Warning: These are the two things you need to fund before interest rates go up
And what about student loans? If you’re considering refinancing, secure this fixed rate now. I checked Bankrate.com.
The best student loan rate I found Monday for those with excellent credit is 1.99%. There are still great prizes out there. However, refinancing a student loan has some potential downsides. If you choose a private lender, you lose certain government protections, such as And there’s always the option of blanket debt forgiveness from the Biden administration that wouldn’t be available to you if you refinance your debt with a private lender.
As for this new car loan, there’s not that much to worry about there. Car loans will rise if the Fed hikes interest rates, but this has a limited impact on monthly car payments. And experts point out that as rates rise, demand is likely to fall, which will drive down car prices. So if you’re waiting for car prices to go down, that’s probably a safer bet.
So it’s time to check your credit score. Annualcreditreport.com will be providing free credit reports through the end of this year.
If you see something that shouldn’t be there, get on board. Contact Experian, Equifax, and TransUnion and dispute this.
Interest rates are still low, at least for now.