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Interest Rate vs APY RateView More Real Estate QuestionsPosted 3/23/10 at 3:07pm What is the difference between an interest rate and an APY rate on a mortgage? Do you have an answer to this question? This question was posted over a month ago, so new answers cannot be added. If you don't see the answer you're looking for here, try creating a new question for your specific issue. User Contributed Answers (1)Annual percentage rate and annual percentage yield are the two most common terms when it comes to compounding interest. APR is a measurement of how much interest will compile each year on a mortgage, without considering compound interest. AYR is the same rate of measurement but it accounts for compound interest on top of everything else. Thus, it is a better measurement of how much you will actually pay in interest over time. Disclaimer: Rate Rush allows any member of the community to submit answers and try to help, and as such, answers might not always be correct. Please consult a certified professional before making any major financial decision. The information and advice posted here does not necessarily represent the opinions of RateRush.com. We are not liable for any financial loss incurred from following this advice. | Get notified of new answers!Let us know your email address and we'll send you a quick notice when a new answer is posted! Browse Questions By Category Banking (34)Business Finance (56) Credit Cards (13) Debt Management (12) Insurance (10) Loans (11) Other (95) Real Estate (23) Retirement (15) Stock Market (15) Taxes (13) |
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