This week's personal loan rates: 3-year loans inch down while 5-year loans spike

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This week's personal loan rates: 3-year loans inch down while 5-year loans spike

Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were lower for 3-year loans and higher for both 5-year loans when compared to fixed-rate loans for the seven days before. Personal loans have become a popular way to consolidate and pay off credit card debt and other loans. They can also be used to cover unexpected expenses like medical bills, take care of a major purchase or fund home improv…