- February 2019 -

Terminology Tip: Annual Percentage Rate (APR)

The APR is an interest rate reflecting the total cost of a mortgage for a whole year (annualized), rather than just the contract rate.

The APR includes all loan costs, such as origination and processing fees, in addition to the interest rate, allowing the borrower to compare different types of mortgages based on the annual cost for each loan. Look for the APR in the written loan estimate, which will show a line-by-line estimate of fees.


Monika Tse

Marketing Specialist


Market Connections Inc.

94 Scarsdale Road, Toronto, ON M3B 2R7

Phone: (416) 223-2250 x238


Email: monika@marketconnections.com

Website: www.realtyreport.org


The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, or other professional advice. Not intended to solicit properties or businesses listed for sale and agency agreements in place with other real estate brokers. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher. ©2019 Market Connections Inc, a Doxim company, Phone: 1-888-659-4755. REALTOR®, REALTORS®, and all related graphics are trademarks of REALTOR® Canada Inc. a corporation owned by The Canadian Real Estate Association and the National Association of REALTORS®.