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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...

When (And When Not) to Refinance Your Mortgage

Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There are many reasons why homeowners refinance: the opportunity to obtain a lower interest rate; the chance to shorten the term of their mortgage; the desire to convert from an...

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