Educational resource only. We are not a lender, broker, or financial adviser. We earn no commissions or referral fees from any lending company. Rate ranges shown come from public Federal Reserve and CFPB data, not lender quotes. Verify all current rates directly with the lender or credit union you are considering. Last reviewed April 2026.

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Public data only

Debt consolidation loan rate environment, April 2026

We do not publish lender-specific rate quotes. Below is the public market data, sourced from the Federal Reserve, the NCUA, and the CFPB. Each figure includes the series name, the report date, and a direct link to the source so you can verify.

Macro rate environment, April 2026

ProductRecent averageSeries / sourcePeriod
24-month personal loan, commercial banks11.92%FRED FTERPLNCCLS24NMQ4 2025
Credit card all accounts APR21.47%FRED TERMCBCCALLNSQ4 2025
Credit card interest-assessed accounts APR22.84%FRED TERMCBCCINTNSQ4 2025
Credit union unsecured personal loan10.78%NCUA Quarterly Call ReportQ4 2025
HELOC average rate8.83%Federal Reserve H.15Mar 2026
30-year fixed mortgage6.71%Federal Reserve H.15Mar 2026
Federal funds target rate (upper)4.50%FRED DFEDTARUApr 2026

Averages reflect the population of borrowers represented in each series. Your specific quote depends on your credit profile, income, debt-to-income ratio, employment stability, and the lender's portfolio strategy. The figures above are useful as a sanity check on quotes you receive, not as a prediction.

How rates vary by credit tier

The Consumer Financial Protection Bureau publishes the Consumer Credit Trends and the quarterly Consumer Credit reports, which slice the loan-origination population by FICO band. We do not republish lender-specific tiers, but the directional pattern is consistent across releases.

  • FICO 760+: Personal loan APRs cluster in the bottom decile of the range. For prime borrowers, the bank average pulls down to roughly 7% to 10%, often with low or zero origination fees.
  • FICO 720 to 759: Slightly above the bottom decile. APRs typically run 10% to 14%, origination fees 0% to 5%.
  • FICO 660 to 719: The mainstream band. APRs typically 13% to 22%, origination fees 3% to 8%. This is where most consolidation borrowers land.
  • FICO 620 to 659: Sub-prime entry. APRs typically 19% to 30%, origination fees 5% to 10%. The math case for consolidation begins to weaken in this band because the rate spread to credit cards narrows.
  • FICO below 620: Most mainstream personal loan products are unavailable. Sub-prime products quote APRs at the regulatory ceiling (often 35.99%) plus the highest origination fees. Consolidation typically does not save money in this band; see bad credit.

How to compare a quote you have received

  1. Find the FRED average for your loan type. For an unsecured personal loan, FTERPLNCCLS24NM. For a HELOC, the H.15 series. For a credit union loan, the NCUA quarterly average.
  2. Adjust mentally for your credit tier. Above 720 FICO, expect to be quoted below the average. 660 to 719, expect to be quoted near the average or slightly above. Below 660, expect to be quoted above the average, often considerably.
  3. Convert the quote to APR if it is given as interest rate. Look at the Truth in Lending disclosure on the loan documents. APR includes the origination fee and is the comparable number across lenders.
  4. Pre-qualify at two more lenders. Always. Pre-qualification uses a soft pull and does not affect your score. A 2 to 4 point spread between lender offers is common, and the small effort to compare is worth several hundred to several thousand dollars over the life of a loan.

What APR includes (and why it is usually higher than the quoted interest rate)

APR is the all-in cost of the loan amortised across the term. It includes the interest rate, the origination fee, and certain prepaid finance charges. It does not include late fees (because those are conditional on missing payments) or optional add-ons.

A practical example: a $20,000 loan at 11% interest with a 6% origination fee over 48 months. The 6% origination fee ($1,200) is deducted from the funded amount, so you receive $18,800 but owe payments based on $20,000. The Truth in Lending Act calculation rolls that $1,200 into the cost basis, producing an APR of roughly 14.5%, well above the 11% interest rate. APR is the apples-to-apples number to use when comparing lenders.

Rate locks and pre-qualification

Pre-qualification gives you a target rate range that depends on the information you provide and a soft credit check. The full application uses a hard pull and verifies the information; the final approved rate may be higher or lower than the pre-qualified range depending on what underwriting finds. Most lenders honour pre-qualified rates for 14 to 30 days. After approval, the rate is locked through funding.

Where to verify the data above

Every figure on this page links to the official source. The Federal Reserve Economic Data (FRED) database is the canonical home for the personal loan and credit card averages. The NCUA publishes credit union industry averages quarterly. Federal Reserve H.15 is the Selected Interest Rates release published weekly. CFPB Consumer Credit Trends is the analytical layer on top of consumer borrowing data, updated quarterly. You can subscribe to any of these series at no cost.

Where to go next

Frequently asked questions

Why don't you publish lender-specific rates?
Lender rates change weekly and depend on your credit profile, income, and the loan term. Any number we published would be out of date or misleading the moment it was written. The macro rate environment from FRED, NCUA, and Federal Reserve H.15 is updated regularly by the source, sourced from actual banking data, and tells you what is reasonable to be quoted. The actual quote you get from a lender during pre-qualification is the only number that matters for your specific decision.
What is APR and how does it differ from interest rate?
The interest rate is the cost of borrowing the principal, expressed annually. APR (Annual Percentage Rate) includes the interest rate plus origination fees and certain other loan costs, amortised across the term. APR is almost always higher than the quoted interest rate because of fees rolled in. By federal law (Truth in Lending Act), lenders must disclose APR for personal loans, which is why APR is the right number to compare across lenders. A 12% interest rate with a 5% origination fee on a 48-month loan has an APR of roughly 14.6%.
How long is a rate quote valid?
Most online lenders lock the pre-qualification rate for 14 to 30 days, after which a fresh check may produce a different number. If you pre-qualify at multiple lenders to compare, complete the full application at the chosen lender within that window. Rate locks for the full application after approval are typically 15 to 60 days; ask the lender to confirm in writing.
Why are credit union rates lower than bank rates on average?
Credit unions are member-owned non-profits. Their pricing model is to break even or return surplus to members rather than maximise profit, so unsecured loan rates run roughly 100 to 200 basis points (1% to 2%) below bank averages on average, per NCUA and FDIC data. Membership requirements vary; many credit unions accept anyone in a geographic region or anyone willing to make a small donation to a specific cause. Federal credit unions cap their APR at 18% by federal regulation, which is meaningfully lower than the bank average for some credit tiers.
Is the personal loan rate I am being quoted reasonable?
Compare the quoted APR to the FRED average for your loan type and roughly to your credit tier. If your FICO is around 720 and you are being quoted 22% on an unsecured personal loan, that is well above the bank average and worth questioning. Pre-qualify at two or three other lenders before accepting. If your FICO is 580 and you are being quoted 22%, that is closer to the floor for that credit tier; the better question is whether consolidation at that rate actually saves money relative to your current debt.