Carnival of Peer-to-Peer Lending #7 — Rate Cuts Hit Prosper
Welcome to the Carnival of Peer-to-Peer Lending #7: “Rate Cuts Hit Prosper” Edition! When I first started investing in Prosper last December, the estimated return for a Conservative Portfolio Plan was 9.20%. Last time I checked, this number was down to 8.00% and it’s even having problem winning bids at this lower rate. I guess this is bad for me, but good for borrowers and the economy.
- RateLadder presents The Rule of 72 on Prosper posted at Prosper Blog: Prosper, the online marketplace for people-to-people lending.
- Mike presents What Should My Target Prosper ROI Be? posted at Prosperous Land.
- Tom presents Fynanz becomes the first P2P student loan marketplace posted at Prosper Lending Review.
- Jim presents Top 11 Search Criteria for Finding Good Prosper Loans posted at Cash Back Ideas.
- Mike presents Is Social Lending a Socially Responsible Investment? posted at Richer by the Day.
- Mike presents What A Difference A Month Makes posted at Prosperous Land.
- Lazy Man and Money presents Hack Your Credit Score? posted at Lazy Man and Money.
- DebtKid presents p2p (peer-to-peer) lending: what is it? posted at DebtKid.
- Dough Roller presents Reader Question: Should $15,000 be invested in P2P Lending or in a Better Mortgage? posted at The Dough Roller.
Other interesting peer-to-peer lending articles:
- Prosper P2P Lending Update #2: Scary Graph and Stats at My Money Blog
- Lending Club vs. Prosper at His Hers Money
- Prosper and Selling Loans at Llama Money
If you would like to try peer-to-peer lending, please use these links to get your sign-up bonuses:
- Lending Club – Earn $25 sign up bonus for becoming a Lending Club lender
- Prosper – Earn $25 sign up bonus for becoming a Prosper lender
Other Articles You May Like
- My Foray into Prosper as a P2P Lender
- Introduction to Peer-to-Peer Lending
- Guest Post at Get Rich Slowly, Round Up, and Carnival
- Lending Club Highlights and Giveaways
- February 2008 Site and Net Worth Review (+0.63%)
Related Tags: carnival
All posts by Pinyo
Get Free Email Updates
Like this article? Enter your email address and click "Subscribe" to get the latest articles sent to your email for free. Your email will only be used for this daily update and you can unsubscribe anytime.
Please share your comment:
6 blogs that link to this article:
If your trackback does not show in 24 hours, please resend to this trackback URI.
- P2P Loans and Baseball
- Commentary on Prosper interest rates, and market movements « CommunityLend blog
- Links: Lending Club Interview
- Weekly Roundup - M-Network Website Edition
- Carnival of P2P Lending » Carnival of P2P Lending #7 Posted
- Requesting Submissions for the next P2P Lending Carnival | Personal Loan Portfolio
Recent Questions
Banking and Investing
- Best High Yield Online Savings Account Rates
- Best Certificate of Deposit Rates (CD Rates)
- Best Online Discount Brokers
Your Credit Score
Best Credit Card Offers
- Best Credit Cards
- Best Balance Transfer Credit Cards
- Lowest Interest Rate Credit Cards
- Best Cash Back Reward Cards
- Best Travel Reward Credit Cards
What's hot on PF Buzz?
- Breaking Free From a Culture of Temptation
- 7 Things To Consider Before Quitting Your Job
- Volunteer Vacations are Fun, Frugal and Rewarding
- We're In Debt: $150,679 In Debt To Be Exact
- College Financial Aid
Relevant Articles From Other Sites
- Professional Blogging Roundup - Don't Get Sloppy This Season Instead Get Busy!
- Finance Fiesta No. 3: The Spanish Money Proverbs Edition
- Fesitval of Frugality #163rd Edition
- Get into Bed with Robin Kaye (Author Q&A)
- Revolution Money Exchange Review
Sponsored Links
Important Notice: I am NOT a financial professional and no content within this website should be considered financial advice. Please consult a certified financial expert before attempting any of the ideas described in this website. Please read the Disclaimer for more information.
- CheapLoans.co.uk - A simple way to find cheap loans. For a hassle free quotation, apply now!
- Mortgage Refinance - FHA lender offers fixed rate mortgage refinance loans for consolidating adjustable rate debt and loans, getting cash back and financing a new home remodel.
I don’t know… never heard about Prosper until today. Checked it out… I think I am going to stick with my mix of stocks, bonds and cash for now. Plus, as a holder of municipal bonds, I am lending too – though admittedly my return is much lower than the advertised Prosper return.
Keep us posted.
I don’t think I would ever borrow through Prosper or other P2P lending sites. I don’t know… I guess I don’t fully understand how it works.
That’s funny. The average rates on my loans actually have gone up, even for the borrowers with good credit. I am starting to wonder about the accuracy of their portfolio alogorithm (spelling?).
@Vered – It’s an interesting concept, but definitely not for everyone. Basically there are thousands of borrowers and lenders in these networks. Let’s say a borrower needs $5,000, whole bunch of lenders would each loan a small amount (as little as $25), so a $5,000 loan may be borrowed from hundreds of lenders.
Most of my money is in cash, stock, and bond too. I basically have “play” money in these networks.
@Christine – I have read one of the borrower said he borrows from LendingClub because he gets better interest rate than other unsecured loans and there is no pre-payment penalty.
@Mark – You have to look at the “adjusted” return after fee, default risk, etc. You could get a 20% loan that is expected to return only 5% after adjusted for risk.
I guess I would be comfortable playing with very small amounts of money over there to begin with. I will give it some thought.
I did some calculations the other day comparing loan portfolios vs CD’s. The comparisons are without reinvestment of returns from loans, but it is still pretty interesting. I’m still working on a simplified model for including reinvestments while taking into account loan defaults.
http://www.step3prophet.com/20.....me-nu.html