3 years ago

Why are new offers APRs higher than existing account APRs?

1 answer:

6 0

Answer:

The APR reflects the interest rate plus the fees you paid directly to the lender or broker or both: origination charges, discount points and any other costs. Those fees add to the cost of the loan, and APR takes them into account. That's why APR is higher than the interest rate.

Step-by-step explanation:

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