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News about Mortgages:
Government funds not needed: Scotiabank - Globe and MailTORONTO — Canadian banks don't need taxpayer money to compete with bailed-out rivals in the United States, Bank of Nova Scotia's chief said Tuesday as his company reported a 67 per cent drop in fourth-quarter profit. “I don't think government ...
Brookfield, Telus, Mercator, Nexen, Opti: Canada Equity Movers - BloombergNov. 27 (Bloomberg) -- The following companies had unusual price changes in Canadian trading . Stock symbols are in parentheses, and share prices are as of 4:10 p.m. in Toronto. The Standard & Poor’s/TSX Composite Index rose 1.3 percent to 8,753.77 ...
Scotiabank surprises investors with deeper Q4 writedown; profits drop ... - Canada EastTORONTO - Scotiabank (TSX:BNS) reported a sharp drop in quarterly profits on Tuesday, but chief executive Rick Waugh says he won't be looking for any handouts from Ottawa. Waugh said Scotiabank has fared well compared with many Canadian and global ...
Scotiabank reports sharp drop in quarterly profits - Prince Edward Island GuardianTORONTO — Scotiabank (TSX:BNS) reported a sharp drop in quarterly profits on Tuesday, but chief executive Rick Waugh says he won’t be looking for any handouts from Ottawa. Waugh said Scotiabank has fared well compared with many Canadian and ...
With markets in turmoil, how to buy gold bars - Globe and MailAs the global financial crisis deepens, Report on Business writers examine and explain the turmoil in credit and stock markets. Here, we answer your questions daily, with the most recent at the top. With the market in turmoil, I may buy some gold ...
Hamburg School Board will try to refinance debt - Reading EagleThe Hamburg School Board has agreed to try to refinance a $23 million variable-rate debt that is costing the district much more than planned. Because the interest rate has climbed, debt service on the loan's bond issue is expected to cost the ...
Applications rise 1.5 percent - Daily Business Reviewortgage applications in the U.S. rose last week as purchases climbed from an eight-year low while refinancing fell, reflecting difficulties in the credit market. The Mortgage Bankers Association’s index of applications to purchase a home or ...
Crombie REIT announces third quarter 2008 results - CNW GroupSTELLARTON, NS, Nov. 6 /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) is pleased to report its results for the third quarter and nine months ended September 30, 2008. Funds from Operations (FFO) for the third quarter increased ...
TD scales back house-price decline - Globe and MailAs the Canada Mortgage and Housing Corp. moves to take $75-billion of debt off bank balance sheets, the agency that helps fund the CMHC is rolling out new debt. The Canada Housing Trust, one of the largest bond issuers in the country, launched its ...
Today's Mortgage Terms starting with A
Accrued Interest: Interest earned but has not been paid
Additional Principal Payment: A payment made by the borrower of more than the scheduled principal amount due with the purpose of reducing the remaining balance on the loan.
Adjustable Rate Mortgage: Loans with interest rates that are adjusted periodically based on changes of a pre-determined index. The index is based on market rates such as Treasury bills and prime rates. The ARM has an interest rate cap that limits the amount the interest rate can change.
Adjustment Period: Applicable to an ARM, the time between changes in the interest rate.
Amortization: Repayment of a debt with periodic payments, usually monthly, of principal and interest calculated to pay down the loan within a predetermined time.
Amortization Schedule: A timetable for payment of a mortgage detailing the amount of each payment applied to interest and principal and the balance left outstanding.
Annual Percentage Rate (APR): The cost of credit shown as a yearly rate. The annual percentage rate is usually not the same as the interest rate. The APR will be higher than the interest rate stated in the note due to the fact that it includes the interest rate, loan discount points, fees and mortgage insurance.
Appraisal Fee: A fee charged by a licensed, certified appraiser for a written estimate of a property's current market value at a specific time.
Assumable Mortgage: A mortgage that can be taken over by the buyer when a home is sold by the previous owner.
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