I would like answer this question because I heared it more often this couple of days.  To start this I would need to tell you something about loans, about types of loans. For example auto loans can not be cheap because the risk factor is high, cars get robbed, they get distroyed, of course there is the inssurance that can cover almost anything, but what if the owner is the one to blame for the damage received by the car? so there are some risk involved. We can now say that the cost of interests depends on the risk that the lender is taking when he is lending you some money.

About the mortgage loan, the house is pretty solid and insurance now covers most of the things that happen to it, so this is why this would be the cheapest loan there is. The mortgage loans are so cheap because there is little risk involved, if people do not make the monthly payment  the bank can easily take theyr house and so most of the people to not joke with this stuff.

A verry high risk loan and with verry high interests would be the payday loan or bad credit loan, this is somehow the newest type of loan, it is consider to be a loan untill you receive the next payment in your account, the risk here is that people do not always pay the lender back because this is a small time loan and the lender can not take the loaners house. This type of loans is pretty special because it can lend from 100$ to 500$ to almost anyone that could afford to pay back a small monthly payment for a period of time. Because of the high risk and the small amount of money that lenders loan this type of loan is the most expensive there is on the market!