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Annual percentage rate |
Also found in: Legal, Acronyms, Wikipedia | 0.07 sec. |
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Annual percentage rate (APR) The periodic rate times the number of periods in a year. For example, a 5% quarterly return has an APR of 20%. |
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? Mentioned in | ? References in periodicals archive | |
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The annual percentage rate is much higher than the listed interest rate. The 2002 revisions to Regulation C require lenders to collect and report data including loan pricing information (the rate spread between the annual percentage rate on the loan and the yield on Treasury securities of comparable maturity); whether the loan is subject to the Home Ownership and Equity Protection Act; whether manufactured housing is involved; whether the loan is secured by a first or subordinate lien on the property; and certain information about requests for preapproval. The RAL's annual percentage rate can be as low as 70 percent or as high as 700 percent. |
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Annual percentage rate