Saturday, June 18, 2011

Will the APR always be higher than the quoted rate for a 30 year mortgage?

I’ve noticed in some APR calculators specifically for fixed rate products that when a higher APR is chosen such that the mortgage company pays you points to take that higher rate, the quoted APR may be lower than the actual rate? Is that correct or is there an issue with the APR calculation? http://bit.ly/kTklFP

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