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A comment on Danes Get 20-Year 0% Mortgages. Parent comment

Re:Danes Get 20-Year 0% Mortgages by beerandt on Tuesday January 05, 2021 @01:20PM (#25648854)
In the US, this is basically why APR =/= APY.

Where APR is the effective rate including fees.

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Re:Danes Get 20-Year 0% Mortgages by foobarian on Tuesday January 05, 2021 @03:23PM (#25650518)
There is definitely a difference between APR and the nominal interest rate of a loan. APY is the same as APR if the compounding happens once a year.
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Re:Danes Get 20-Year 0% Mortgages by beerandt on Thursday January 07, 2021 @09:04AM (#25671130)
Not if there are fees or points charged by the bank for the loan. They must be included in calculating apr.
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Re:Danes Get 20-Year 0% Mortgages by pkaye on Tuesday January 05, 2021 @02:23PM (#25649782)
I though APY is just APR with interest compounding.
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