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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...

Why a 10 year Consumer Mortgage Might Be In Your Future

Is a  10-Year Mortgage in Your Future? In what could portend a growing trend in coming years, the 10-year mortgage loan has emerged as the mortgage of choice for an increasing number of consumers. Why the sudden interest in the shortest of fixed mortgages? It may be time to take...

U.S. mortgage rates dip lower to start 2017

U.S. mortgage rates changed direction starting the new year, according to Freddie Mac. The 30-year fixed mortgage averaged 4.2 percent for the week ending Jan. 5, down from 4.32 percent the previous week. A year ago, mortgage rates averaged 3.97 percent. Favorable mortgage rates...