Interest rate vs. APR: What’s the difference? By: Chrystal Caruthers When borrowing money, the first rule should always be to search for the lowest interest rate because borrowing costs can vary widely by lender and loan type. Credit cards are notorious for charging astronomical interest rates to some while offering 0 percent loans to others. Auto loans are not much better. Yet, when it comes to mortgages, consumers are rate conscious. But there’s more to consider than just the rate. The annual perc... read more