Borrower briefing
The rate moves and rule changes that affect how much you can borrow and what it costs, each with its date, what it means for you and the official source.
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Rates
Fed G.19: average 24-month bank personal loan rate 11.90% in Q3 2026
The Federal Reserve's consumer credit release of November 6, 2026 put the average commercial bank rate on a 24-month personal loan at 11.90% APR for Q3 2026 (preliminary), up from 11.86% in Q2 and 11.36% in Q1 2026. The figure is a simple average of each bank's most common rate, so many borrowers are quoted more or less.
For your loan: As a worked example, $10,000 over 36 months at 11.90% costs about $332 a month and $1,940 in interest, so use a rate near your own credit profile, not the average, when you size the payment.
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Rates
Fed holds the federal funds target at 3.75% to 4.00%
The Federal Open Market Committee kept its target range at 3.75% to 4.00% at its October 27–28, 2026 meeting. The vote was 10–2; the two dissenters preferred another 0.25-point increase.
For your loan: Rates on new fixed-rate personal loans have no new push from the Fed this round, so a quote you get now should not shift much for that reason alone.
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Rates
Fed raises the federal funds target 0.25 point, to 3.75% to 4.00%
The FOMC raised its target range by a quarter point on September 16, 2026, its first increase after the 2025 cuts, saying inflation remains elevated. The range had been 3.50% to 3.75% since December 2025.
For your loan: A 0.25-point rise passed fully into a fixed rate adds about $1.23 a month and $44 of interest to a $10,000, 36-month loan at 15% APR (worked example), so the term and amount matter far more than this move.
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Rates
Fed holds at 3.50% to 3.75% for a fifth straight meeting, with three dissents for a hike
The FOMC left its target range at 3.50% to 3.75% on July 29, 2026, as it had at every 2026 meeting since January. Three members dissented in favor of a 0.25-point increase, a signal that the next move could be up.
For your loan: When the Fed leans toward higher rates, a fixed-rate loan locks today's price for the whole term, which matters most on longer terms.
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State law
Oregon closes the out-of-state bank route around its 36% cap on consumer finance loans
Oregon HB 4116, signed April 7, 2026 and effective June 5, 2026, uses the state's opt-out right under the federal Depository Institutions Deregulation and Monetary Control Act (DIDMCA). It is aimed at internet lenders that partnered with out-of-state banks to charge Oregon borrowers more than the state's 36% limit on consumer finance loans (unsecured small-dollar loans with terms of 60 days or more).
For your loan: If you live in Oregon and an offer for a small unsecured installment loan shows an APR above 36%, the state regulator says it is likely unlawful.
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Federal rule
CFPB final rule rewrites parts of Regulation B (Equal Credit Opportunity Act)
The CFPB published a final rule amending Regulation B, scheduled for the Federal Register on April 22, 2026, taking effect 90 days after publication. It states that the Equal Credit Opportunity Act does not authorize disparate-impact liability, narrows what counts as discouraging applicants, and adds conditions for special purpose credit programs run by for-profit firms.
For your loan: Your right to a notice with reasons when a lender denies you or offers less than you asked comes from the ECOA itself, so keep asking for it when you get a counteroffer.
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Agency action
NCUA keeps the 18% federal credit union loan rate ceiling through September 10, 2027
The NCUA Board extended the temporary 18% interest rate ceiling on loans from federal credit unions; the Federal Credit Union Act sets 15% unless the Board raises it. Payday alternative loans (PAL I up to $1,000, PAL II up to $2,000) may charge up to 10 points above the ceiling under NCUA rules.
For your loan: At a federal credit union, a personal loan of any size cannot exceed 18% APR through September 10, 2027, which is a useful benchmark when you compare offers.
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Federal rule
Truth in Lending threshold for 2026 set at $73,400
The Federal Reserve Board and the CFPB announced that Regulation Z (Truth in Lending) and Regulation M generally cover consumer credit and leases of $73,400 or less in 2026, an adjustment based on a 2.1% rise in the CPI-W. Credit secured by real property and private education loans are covered at any amount.
For your loan: A personal loan above $73,400 that is not secured by real property may come without the standard Truth in Lending disclosure, so ask for the APR and total of payments in writing.
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Rates
Fed cuts the federal funds target to 3.50% to 3.75%
The FOMC lowered its target range by 0.25 point on December 10, 2025, its third cut in a row. The range then stayed at 3.50% to 3.75% through the July 2026 meeting.
For your loan: Loans priced after the 2025 cuts started from a lower base, but the Fed's average bank rate on 24-month personal loans was higher in Q3 2026 (11.90%) than in Q4 2025 (11.63%), so check current quotes rather than assuming loans got cheaper.
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Rates
Fed cuts the federal funds target to 3.75% to 4.00%
The FOMC lowered its target range by 0.25 point on October 29, 2025, and said it would end the reduction of its securities holdings on December 1.
For your loan: Changes in the Fed's target reach new personal loan rates slowly and loosely; your credit, income and debts still set most of the price and the amount you are offered.
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Rates
Fed cuts the federal funds target to 4.00% to 4.25%, its first cut of 2025
The FOMC lowered its target range by 0.25 point on September 17, 2025, to 4.00% to 4.25%. Two more quarter-point cuts followed in October and December 2025.
For your loan: This began a run of three cuts in 2025 that lowered the base rate lenders build on, though personal loan pricing follows it only loosely.