Right now, good mortgage rates for a 15-year fixed loan start in the 5% range, while good rates for a 30-year mortgage generally start in the 6% range. An APR of 5% is good for almost all types of loans, except for mortgages. On personal loans, credit cards, student loans, and car loans, 5% is much cheaper than the average rate. However, you probably can't get such a low rate unless you have excellent credit, and it's unlikely that it'll even be offered for credit cards.
The rate fluctuated over a 20-year period, rising and falling between 3% and 10% during the 1960s and 1970s, before skyrocketing inflation, which surpassed 13% in 1980, forced rates to reach an all-time high of 19.1%. An increase in the FFR could cause an increase in the base prime rate, affecting the typical cost of a loan and mortgage. After comparing the personal loan rates you're prequalified for, you'll usually want to apply for the loan with the lowest estimated rate. A recession would pressure the Federal Reserve to stop its rate-raising regime to avoid putting more pressure on growth, and analysts would only need to look at the direction in which rates moved during previous recessions.
The Fed sets the federal funds rate (FFR), the key base interest rate that trickles down to banks, affects demand for bonds and, more generally, affects the economy and stocks. If you're planning to consolidate debt, a good interest rate for a personal loan is a significantly lower rate than your current debt rates.
