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In this episode of the Mortgage Minute, host Doug Crouse from BMO Bank revisits the critical comparison between APR and interest rates. Doug explains that while APR reflects the total cost of borrowing including fees, the interest rate is the basic cost of the loan itself.

He highlights the importance of comparing these figures to evaluate mortgage offers and warns that the lowest interest rate may not always be the best deal if you’re planning to refinance soon. Tune in for insights on how to make informed mortgage decisions and understand the nuances of APR versus interest rates. To learn more about Doug, go to www.DougCrouse.com.

Mortgage Minute - APR vs. Note Rate