Interest Rate vs. APR: What's the Difference?
Making sense of annual percentage rates and interest rates.
Among all the numbers swirling around the topic of mortgages, two determine how much you pay for the loan: interest rate and annual percentage rate. Everyone knows about interest rates because they go hand-in-hand with any kind of loan. Low interest rates are water cooler conversation, inescapable in advertising, a spark that ignites an interest in...