Finance

This week’s personal loan rates rise for 3-year terms, fall for 5-year terms

Published

1 year ago

April 22, 2024

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own.

The latest trends in interest rates for personal loans from the Credible marketplace, updated weekly. (iStock)

Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3-year loans and lower for 5-year loans when compared to fixed-rate loans for the seven days before.

For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender between April 15 and April 21:

Rates on 3-year fixed-rate loans averaged 15.46%, up from 15.04% the seven days before and from 13.63% a year ago.
Rates on 5-year fixed-rate loans averaged 20.26%, down from 20.28% the previous seven days and up from 16.59% a year ago.

Personal loans have become a popular way to consolidate debt and pay off credit card debt and other loans. They can also be used to cover unexpected and emergency expenses like medical bills, take care of a major purchase, or fund home improvement projects.

Average personal loan interest rates

Average personal loan interest rates increased over the last seven days for 3-year loans and decreased for 5-year loans. While 3-year loan rates rose by 0.42 percentage points, rates on 5-year loans fell by 0.02 percentage points. Interest rates for both terms remain significantly higher than they were this time last year, up 1.83 percentage points for 3-year terms and up 3.67 percentage points for 5-year terms.

Still, borrowers can take advantage of interest savings with a 3- or 5-year personal loan, as both loan terms offer lower interest rates on average than higher-cost borrowing options such as credit cards.

But whether a personal loan is right for you depends on multiple factors, including what rate you can qualify for, which is largely based on your credit score. Comparing multiple lenders and their rates helps ensure you get the best personal loan for your needs.

Before applying for a personal loan, use a personal loan marketplace like Credible to comparison shop.

Personal loan weekly rate trends

Here are the latest trends in personal loan interest rates from the Credible marketplace, updated weekly.

The chart above shows average prequalified rates for borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender.

For the month of March 2024:

Rates on 3-year personal loans averaged 22.22%, up from 21.68% in February.
Rates on 5-year personal loans averaged 24.38%, down from 24.88% in February.

Rates on personal loans vary considerably by credit score and loan term. If you’re curious about what kind of personal loan rates you may qualify for, you can use an online tool like Credible to compare options from different private lenders.

All Credible marketplace lenders offer fixed-rate loans at competitive rates. Because lenders use different methods to evaluate borrowers, it’s a good idea to request personal loan rates from multiple lenders so you can compare your options.

Current personal loan rates by credit score

In March, the average prequalified rate selected by borrowers was:

12.58% for borrowers with credit scores of 780 or above choosing a 3-year loan
31.39% for borrowers with credit scores below 600 choosing a 5-year loan

Depending on factors such as your credit score, which type of personal loan you’re seeking and the loan repayment term, the interest rate can differ.

As shown in the chart above, a good credit score can mean a lower interest rate, and rates tend to be higher on loans with fixed interest rates and longer repayment terms.

How to get a lower interest rate

Many factors influence the interest rate a lender might offer you on a personal loan. But you can take some steps to boost your chances of getting a lower interest rate. Here are some tactics to try.

Increase credit score

Generally, people with higher credit scores qualify for lower interest rates. Steps that can help you improve your credit score over time include:

Pay bills on time: Payment history is the most important factor in your credit score. Pay all your bills on time for the amount due.
Check your credit report: Look at your credit report to ensure there are no errors on it. If you find errors, dispute them with the credit bureau.
Lower your credit utilization ratio: Paying down credit card debt can improve this important credit-scoring factor.
Avoid opening new credit accounts: Only apply for and open credit accounts you actually need. Too many hard inquiries on your credit report in a short amount of time could lower your credit score.

Choose a shorter loan term

Personal loan repayment terms can vary from one to several years. Generally, shorter terms come with lower interest rates, since the lender’s money is at risk for a shorter period of time.

If your financial situation allows, applying for a shorter term could help you score a lower interest rate. Keep in mind the shorter term doesn’t just benefit the lender – by choosing a shorter repayment term, you’ll pay less interest over the life of the loan.

Get a cosigner

You may be familiar with the concept of a cosigner if you have student loans. If your credit isn’t good enough to qualify for the best personal loan interest rates, finding a cosigner with good credit could help you secure a lower interest rate.

Just remember, if you default on the loan, your cosigner will be on the hook to repay it. And cosigning for a loan could also affect their credit score.

Compare rates from different lenders

Before applying for a personal loan, it’s a good idea to shop around and compare offers from several different lenders to get the lowest rates. Online lenders typically offer the most competitive rates – and can be quicker to disburse your loan than a brick-and-mortar establishment.

But don’t worry, comparing rates and terms doesn’t have to be a time-consuming process.

Credible makes it easy. Just enter how much you want to borrow and you’ll be able to compare multiple lenders to choose the one that makes the most sense for you.

About Credible

Credible is a multi-lender marketplace that empowers consumers to discover financial products that are the best fit for their unique circumstances. Credible’s integrations with leading lenders and credit bureaus allow consumers to quickly compare accurate, personalized loan options – without putting their personal information at risk or affecting their credit score. The Credible marketplace provides an unrivaled customer experience, as reflected by over 6,500 positive Trustpilot reviews and a TrustScore of 4.7/5.

Finance

These are 3 big things we’re watching in the stock market this week

Published

49 minutes ago

April 27, 2025

Business Finance News

The stock market bounce last week showed once again just how dependent Wall Street has become on the whims of the White House. Case in point: The S & P 500 sank more than 2% this past Monday as President Donald Trump was attacking Federal Reserve Chairman Jerome Powell and providing scant details on tariff talks. Then on Tuesday , things started to turn around. Treasury Secretary Scott Bessent said there “will be a de-escalation” in the trade war with China. It was the first day of what turned out to be a three-session rally for the S & P 500. Wednesday ‘s gains were fueled after Trump said he would not fire Powell and softened his stance on China. Thursday ‘s advance came despite China saying no trade talks were going on with the U.S., and the White House saying otherwise. The market finished higher Friday . When it was all said and done, the S & P 500 and the Nasdaq gained 4.6% and 6.7% , respectively, for the week. Nasdaq’s outsized advance last week put it in the green for the month with just three trading days left in April. Our tech stock standouts last week included Broadcom ‘s 12.5% gain and CrowdStrike ‘s 13% advance. The broader market S & P 500, however, was still down 1.5% in April as health care and materials continued to struggle this month. For the week, the Dow rose 2.5%, but that did not put much of a dent in the 30-stock average’s 4.5% monthly decline. .SPX .DJI,.IXIC YTD mountain S & P 500, Dow, and Nasdaq YTD Earnings from consumer-facing companies last week confirmed what the monthly consumer surveys have been reporting: People are worried about the economy and inflation and are not spending as freely. On Friday, the University of Michigan’s final look at April consumer sentiment was a bit better than the prior release on both feelings about the economy and inflation. However, the readings were still dismal. Four Club names delivered their quarterly report cards last week. Depressed Danaher on Tuesday showed signs of life , and the stock picked up nearly 5.5%. The theme of Capital One’s quarter, also out Tuesday, was resilient credit quality heading into next month’s completion of its purchase of credit card company and payment network Discover Financial. Capital One soared more than 12% last week. It was our biggest winner. The portfolio’s other financial stocks — Wells Fargo , Goldman Sachs , and BlackRock — also performed well last week. On Thursday, we lowered our price target on Bristol Myers Squibb because the financials did not resolve lingering issues for the stock, which lost 2.7% for the week. Guidance from Dover , also out Thursday, was prudently conservative , and the market rewarded the stock. Dover shares rose 5% for the week. We sent out four trade alerts last week. On Monday, we made good on Jim Cramer’s call earlier this month to lighten up on Apple and Nvidia because they are so hard to own in Trump’s second administration due to U.S. tensions with China. Apple and Nvidia gained ground last week — more than 6% and 9%, respectively. We also bought more shares of Capital One before the earnings pop because we felt the stock on Monday should have done better following regulator approval for its Discover deal. On Tuesday, we bought more shares of BlackRock and Dover before they jumped last week. We also added to our Starbucks position, which perked up last week but was still losing roughly 15% in April on all the back and forth on China trade talks. We trimmed Linde on Thursday. Shares of the industrial-focused name have been resilient throughout the market turmoil and have maintained gains. There’s plenty on the economic calendar in the week ahead, with pivotal releases on both sides of the Fed’s dual policy mandate of maximum employment (jobs) and price stability (inflation). In that sense, the data in the coming days carries implications for the central bank’s future moves on interest rates and investors’ understanding of where the U.S. economy stands during the trade war more generally. In addition to the usual weekly jobless claims data on Thursday, there are three major labor market reports on tap. Job, jobs, jobs The Job Openings and Labor Turnover Survey for March is due out Tuesday morning. The closely watched release, known as JOLTS, measures the tightness or slack in the jobs market. That provides clues on whether businesses are looking to hire and potential wage inflation. As of Friday, the consensus estimate is 7.47 million job openings, according to FactSet. On Wednesday morning, payroll processing firm ADP’s look at private job creation is slated for release. Economists expect private employers added 150,000 jobs in April, a month marked by tariff uncertainty, according to FactSet. ADP is generally seen as a preview of the U.S. government’s official jobs report, though it’s hardly a perfect harbinger. Friday brings that official government jobs data. The nonfarm payrolls report for April also is expected to show the U.S. added 150,000 jobs, with the unemployment rate staying unchanged from the prior month at 4.2%, according to FactSet. Of course, the impact of tariffs on hiring is a key question. Whether the Trump administration’s efforts to downsize the federal workforce shows up in a material way is another question. In the March report, government positions dropped by just 4,000 . Inflation check The Fed’s preferred inflation gauge is set to be released Wednesday morning, with economists expecteding that the PCE index rose 2.6% year over year in March and 0.1% on a sequential basis. It bears repeating that this report is for March, so it was before Trump’s steep “reciprocal” tariffs briefly went into effect – then were paused while 10% baseline tariff on most trading partners was left in place. Nevertheless, the personal consumption expenditures index will shine a light on where price pressures in the economy stood before tariffs heated up. Inflation has remained above the Fed’s 2% target, and central bankers are waiting to see the inflationary impacts of tariffs. Earnings On top of the busy week of jobs and inflation data, the earnings calendar is jam-packed inside and outside the portfolio. We have 10 Club names reporting — headlined by four Big Tech holdings — while other influential companies in the market include Visa on Tuesday, Caterpillar on Wednesday, and Mastercard and McDonald’s on Thursday. Here’s what to watch for when our portfolio names report, along with sales and revenue estimates courtesy of LSEG. All other estimates are from FactSet. Honeywell is the first of the Club stocks to report on Tuesday morning, and as an industrial company with economic sensitivity, the trade war’s impact on customer orders will be a big focus. It’s worth noting: The company’s 2025 guidance offered in early February was already conservative. Its impending breakup into three standalone companies will be another topic of conversation. LSEG estimates: revenue of $9.59 billion and EPS: $2.21. Starbucks on Tuesday night is all about whether CEO Brian Niccol’s turnaround efforts are showing further signs of progress after its last quarter showed early indications that they were. Will they help the coffee chain break its four-quarter streak of declining same-store sales? The current consensus on Wall Street is for a decline of 0.8%. The weakening consumer may have hurt Starbucks during the period (and also could weigh on its outlook). Finally, updates on its China strategy and whether it’s facing anti-American backlash in that struggling market will be noteworthy. LSEG estimates: revenue of $8.86 billion and EPS of 50 cents. The biggest questions around Meta Platforms ‘ report after Wednesday’s close: How did its bread-and-butter advertising perform during the quarter as tariff-driven economic uncertainty started to bubble up, and how have more recent trade war developments changed advertisers’ behavior, particularly China-based businesses, if at all? The second theme is Meta’s AI spending plans in the face of elevated uncertainty. Is CEO Mark Zuckerberg standing by its $60 to $65 billion capital expenditures guidance? LSEG estimates: revenue of $41.39 billion and EPS: $5.28. The conversation on AI spending also will be playing out on Microsoft’s earnings call on Wednesday night. For roughly two months now, questions have been swirling about Microsoft’s data center expansion leases, with various reports of lease cancelations and pauses. Hopefully, analysts and investors alike get further clarity on this and the company’s capex intentions more broadly. The most important metric in the report is Azure cloud growth for both the January-to-March period and guidance for the current quarter. LSEG estimates: revenue of $68.44 billion and EPS: $3.22. Shares of Linde , which reports Thursday morning, have acted quite defensively this year for a company sensitive to economic growth. The nature of Linde’s localized industrial gas business makes it so its impact is more indirect — in other words, if an uncertain macro forces its customers to pull back their production, then Linde could see that show up in its volumes. The comforting thing for investors is that Linde’s management team is known for its conservatism with its guidance, and a weaker U.S. dollar could also be a tailwind to earnings growth. LSEG estimates: revenue: of $8.24 billion and EPS: $3.92. For Eli Lilly ‘s results on Thursday morning, the most important drugs remain Zepbound for obesity and Mounjaro for obesity, and analysts see them generating combined revenues of $6.06 billion in the quarter. This time around, though, Lilly’s call may spend a lot more time away from the GLP-1 market, with tariffs and the evolving regulatory regime in Washington — ranging from drug-price negotiations to industry critic Robert F. Kennedy Jr. as the nation’s top health official — as being major discussion points. To be sure, pipeline commentary, especially expectations for its GLP-1 pill , also will be influential. LSEG estimates: revenue: $12.67 billion and EPS: $3.05. Tariffs will be the dominant story on Thursday night when Apple reports. We’ll finally hear directly from CEO Tim Cook on how the company has responded thus far on production and plans to proceed from here, given it is currently exempt from the most aggressive tariffs on Chinese imports but still faces the looming threat of electronics-specific duties. Last Tuesday, new data showed that American consumers are prepared to remain loyal to the iPhone. On Friday, Reuters reported Apple is trying to make most of its U.S.-sold iPhones in India by the end of 2026. The other main angle is how tariffs have changed customer behavior. Did a lot of purchases get pulled into March quarter to beat tariff price hikes, leading to more subdued demand in the current quarter? LSEG estimates: revenue of $94.3 billion and EPS: $1.62. Amazon ‘s forward commentary on how the tariffs are affecting its ecommerce, Amazon Web Services and advertising businesses will carry greater weight than the first-quarter results themselves. On the retail side, have customers been stocking up to beat tariffs, and how is the company handling supply? Are sellers hiking their prices ? For AWS, is the uncertain environment changing customers’ consumption habits and IT budgets at all? Of course, analysts also will press on Amazon’s data center and AI spending strategy . On the ad front, Amazon has exposure to China-based marketers, like Meta, and weaker consumer spending could generally pressure ad spending. Profitability is a key watch item, too. LSEG estimates: revenue of $154.92 billion and EPS: $1.36. When DuPont reports Friday morning, investors will be in search of updates on what the tariffs mean for customer demand — spanning industries such as electronics, automotive and construction — rather than the company’s own import exposure. DuPont’s business in China, which is almost a fifth of its sales, will be a big focus, and executives will surely get questions about Beijing’s investigation into the firm . DuPont’s electronics spinoff planned for later this year figures to be discussed, as well. LSEG estimates: revenue of $94.3 billion and EPS of 95 cents. Rounding out the week alongside DuPont on Friday morning is electrical equipment supplier Eaton , which has seen its stock hit hard this year as investors questioned the sustainability of data center investments. That crucial business will be a topic of conversation, as well as the company’s direct tariff exposure and the secondary effect on customer demand in businesses including automotive. Order growth, project backlog and margins are important metrics to watch. LSEG estimates: revenue of $6.26 billion and EPS of $2.70. Week ahead Monday, April 28 Dallas Fed’s Texas Manufacturing Outlook Survey Before the bell: Roper Technologies (ROP), Domino’s Pizza (DPZ) After the close: Cadence Design Systems (CDS), Rambus (RMBS), NXP Semiconductor (NXPI), Nucor (NUE), Waste Management (WM), Noble Corporation (NE), Leggett & Platt (LEG) Tuesday, April 29 Census Bureau’s Monthly Wholesale Trade Survey at 8:30 a.m. ET The Conference Board’s Consumer Confidence Survey at 10 a.m. ET Job Openings and Labor Turnover Survey at 10 a.m. ET Before the bell: UPS (UPS), Honeywell (HON) , General Motors (GM), Pfizer (PFE), Coca-Cola (KO), JetBlue (JBLU), PayPal (PYPL), Kraft Heinz (KHC), Hilton Hotels (HLT), Deutsche Bank (DB), Adidas (ADS), Spotify (SPOT), Brinker International (EAT), Royal Caribbean (RCL) After the bell: Visa (V), Booking Holdings (BKNG), Starbucks (SBUX) , Mondelez International (MDLZ), Caesars Entertainment (CZR), PPG Industries (PPG), Expand Energy (EXE) Wednesday, April 30 ADP’s Employment Survey at 8:15 a.m. ET Gross Domestic Product, First Quarter Advance Estimate at 8:30 a.m. ET Personal Consumption Expenditures Price Index at 10 a.m. ET National Association of Realtors’ Pending Home Sales Index at 10 a.m. ET Before the bell: Caterpillar (CAT), Humana (HUM), GSK (GSK), Barclays (BCS), Airbus (AIR), Stanley Black & Decker (SWK), GE Healthcare (GEHC), Norwegian Cruise Line (NCL), International Paper (IP), Wingstop (WING), ADP (ADP) After the bell: Qualcomm (QCOM), Meta Platforms (META), Microsoft (MSFT), eBay (EBAY), Robinhood (HOOD), Teladoc Health (TDOC), KLA Corp (KLA), MGM Resorts (MGM), Canadian Pacific Kansas City (CP) Thursday, May 1 Initial Jobless Claims at 8:30 a.m. ET ISM’s Manufacturing PMI at 10 a.m. ET Before the bell: Eli Lilly (LLY), Linde (LIN), CVS Health (CVS), McDonald’s (MCD), Mastercard (MA), Intercontinental Exchange (ICE), Shake Shack (SHAK), Sirius XM (SIRI), Harley-Davidson (HOG), Biogen (BIIB), Moderna (MRNA), Wayfair (W), Cardinal Health (CAH), Roblox (RBLX) After the bell: Amgen (AMGN), Apple (AAPL), Amazon (AMZN), Roku (ROKU), Airbnb (ABNB), Block (XYZ), Motorola Solutions (MSI), Juniper Networks (JNP), Mohawk Industries (MHK), U.S. Steel (X), Reddit (RDDT), Live Nation (LYV), Stryker (SYK), EOG Resources (EOG), Ingersoll Rand (IR) Friday, May 2 April Nonfarm Payrolls Report at 8:30 a.m. ET Before the bell: Chevron (CVX), Exxon Mobil (XOM), Eaton (ETN), Cigna (CI), DuPont (DD), FuboTV (FUBO), Wendy’s (WEN), Shell (SHEL), T. Rowe Price (TROW), Apollo Global Management (APO) Saturday, May 3 Berkshire Hathaway (BRK) (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

A security guard works outside the New York Stock Exchange (NYSE) before the Federal Reserve announcement in New York City, U.S., September 18, 2024.

Andrew Kelly | Reuters

The stock market bounce last week showed once again just how dependent Wall Street has become on the whims of the White House.

Finance

These U.S. consumer stocks face higher China risks

Published

2 hours ago

April 27, 2025

Business Finance News

Finance

Apple iPhone assembly in India won’t cushion China tariffs: Moffett

Published

24 hours ago

April 26, 2025

Business Finance News

Street's biggest Apple bear says a production move to India is unrealistic

Leading analyst Craig Moffett suggests any plans to move U.S. iPhone assembly to India is unrealistic.

Moffett, ranked as a top analyst multiple times by Institutional Investor, sent a memo to clients on Friday after the Financial Times reported Apple was aiming to shift production toward India from China by the end of next year.

He’s questioning how a move could bring down costs tied to tariffs because the iPhone components would still be made in China.

“You have a tremendous menu of problems created by tariffs, and moving to India doesn’t solve all the problems. Now granted, it helps to some degree,” the MoffettNathanson partner and senior managing director told CNBC’s “Fast Money” on Friday. “I would question how that’s going to work.”

Moffett contends it’s not so easy to diversify to India — telling clients Apple’s supply chain would still be anchored in China and would likely face resistance.

“The bottom line is a global trade war is a two-front battle, impacting costs and sales. Moving assembly to India might (and we emphasize might) help with the former. The latter may ultimately be the bigger issue,” he wrote to clients.

Moffett cut his Apple price target on Monday to $141 from $184 a share. It implies a 33% drop from Friday’s close. The price target is also the Street low, according to FactSet.

“I don’t think of myself as the biggest Apple bear,” he said. “I think quite highly of Apple. My concern about Apple has been the valuation more than the company.”

Moffett has had a “sell” rating on Apple since Jan. 7. Since then, the company’s shares are down about 14%.

“None of this is because Apple is a bad company. They still have a great balance sheet [and] a great consumer franchise,” he said. “It’s just the reality of there are no good answers when you are a product company, and your products are going to be significantly tariffed, and you’re heading into a market that is likely to have at least some deceleration in consumer demand because of the macro economy.”

Moffett notes Apple also isn’t getting help from its carriers to cushion the blow of tariffs.

“You also have the demand destruction that’s created by potentially higher prices. Remember, you had AT&T, Verizon and T. Mobile all this week come out and say we’re not going to underwrite the additional cost of tariff [on] handsets,” he added. “The consumer is going to have to pay for that. So, you’re going to have some demand destruction that’s going to show up in even longer holding periods and slower upgrade rates — all of which probably trims estimates next year’s consensus.”

According to Moffett, the backlash against Apple in China over U.S. tariffs will also hurt iPhone sales.

“It’s a very real problem,” Moffett said. “Volumes are really going to the Huaweis and the Vivos and the local competitors in China rather than to Apple.”

Apple stock is coming off a winning week — up more than 6%. It comes ahead of the iPhone maker’s quarterly earnings report due next Thursday after the market close.

To get more personalized investment strategies, join us for our next “Fast Money” Live event on Thursday, June 5, at the Nasdaq in Times Square.