Decoding the Mystery of APR: Understanding the True Cost of Borrowing You’re finally ready to take the plunge – whether it’s buying your dream car, upgrading your kitchen, or consolidating debt. But as you dive into the world of loans and credit cards, a term keeps popping up: APR. It sounds intimidating, but trust us,...
Say Goodbye to LIBOR, Hello SOFR: Understanding the New King of Interest Rates For years, LIBOR (London Interbank Offered Rate) reigned supreme as the benchmark interest rate used for trillions of dollars in loans and financial contracts worldwide. But its time is coming to an end. Why? Because LIBOR has been plagued by scandals involving...