If you need or want to borrow money, what are you waiting for?
Most people have already benefited from low rates, according to a September survey by Wells Fargo and Gallup of 1,006 investors. Fifty-eight percent have either taken out a car loan, mortgage or personal loan over the past two years. Half of those surveyed said they were very or somewhat likely to take out a loan in the near future in anticipation that rates may go up.
If you need a loan, it's best to shop around. "Consumers do best when they cast a wide net," said Greg McBride, chief financial analyst at Bankrate.com.