Annual Percentage Rate Defined
Annual Percentage Rate or APR is a rate of interest that includes certain costs and fees for the mortgage in addition to the interest rate expressed as a yearly rate. The APR rate is not the rate your payment is calculated from.
It was supposed to make mortgage shopping easier [...]

What is APR?, is commonly asked question and a confusing concept for the average consumer since most erroneously believe they can use APR to compare mortgage offers.
The confusion is compounded when it is widely reported the government passed The Truth In Lending Act in 1974 which mandated a disclosure of APR on [...]