oops, guess that poll question range was too wide, not specific enough

[netmouse]

For those who answered (some form of) Yes, a certain loan interest rate seems excessively high, the majority responded that "too high " starts between 5 and 25 %, and I'd like to see a breakdown on that. Please answer this question too!

[Poll #1343223]

Comments

[rmeidaking.livejournal.com]

I agree with dagibbs. You need to consider the larger economy in order to determine what a good interest rate is. Another key factor is the term of the loan; one might expect a higher rate on a short term loan, for instance, which is a reason banks give for having high credit card rates and low mortgage rates.

In general, I think anything over 10% is excessive, but I admit that I have an aversion to paying interest. I would go for 6% on a mortgage, and as high as 9% on a credit card.