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APR vs. interest rate: What’s the difference?
The APR and interest rate on your mortgage aren’t the same. Here’s what to pay attention to when you compare costs.
The rate on a 30-year fixed refinance slipped to 6.2% today, according to the Mortgage Research Center. Rates averaged 5.26% for a 15-year financed mortgage and 5.98% for a 20-year financed mortgage.
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