What Are Interest Rates and Annual Percentage Rates?

iStock_000000495393_MediumWhen you do your research on mortgage rates, often there are two rates discussed: Interest Rates and Annual Percentage Rates. Note rate, also known as interest rate and APR (Annual Percentage Rate) can be confusing for everyone: consumers, real estate agents and even CPA’s. Ever wonder what the difference is? The Wall Street Journal sums it up nicely in this article.

 

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