Any time you go shopping for a new home loan, car loan or credit card, you’re likely to encounter a lot of “fine print” on the loan or credit agreement. While it’s a good idea to understand all of the terms you’re agreeing to, some terms deserve more of your focus. One of the most important terms of any credit arrangement, and the one that will impact your cost of borrowing most directly, is the annual percentage rate (or “APR”) of the loan. What is APR? Annual Percentage Rate is a numerical description of the interest rate that you effectively pay...

Read More »