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What’s the difference between an Interest Rate and The APR?

When you shop for a loan, you will typically see two rates, the interest rate and the annual percentage rate (APR). If you don’t clearly understand the difference between the two, you won’t understand the difference between what you are paying in interest and the true cost of the...

4 Smart Reasons To Refinance A Mortgage

Mortgage rates are on the rise. As reported by the New York Times, rates jumped 50 basis points virtually overnight. My own tracking of rates confirms the jump, as reflected here. And this raises an important question–when should you refinance a mortgage? The common reason...
Posted On 21 Apr 2017

Mortgages: Fixed-Rate Versus Adjustable-Rate

Fixed-rate mortgages and adjustable-rate mortgages (ARMs) are the two primary mortgage types. While the marketplace offers numerous varieties within these two categories, the first step when shopping for a mortgage is determining which of the two main loan types – the...

Why Home Buyers Should Consider Adjustable-Rate Mortgages

With interest rates on the rise, it may be time for home buyers to take a fresh look at some alternatives to the 30-year, fixed-rate mortgage, which has dominated the mortgage market since the financial crisis. While many out-of-the-mainstream loans got a black eye in the...
Posted On 21 Apr 2017