lIlhad Milhouse is arranging nancing for a rst-time home purchase. He wants to borrow $200,000 for 15 years and is quoted a mortgage rate of 6.50 percent The bank requires $2,000 in non-interest fees due at closing. His mortgage broker explains the loan dis closures, which list both the mortgage rate and the APR [the implied interest rate including fees]. Milhouse should expect the APR to be: H\" equal to the mortgage rate. a\" lower than the mortgage rate. higher than the mortgage rate