Mortgage Interest

Chennai, India
January 28, 2014 5:21am CST
How often mortgage interest is compounded in a country?
1 response
Michael Leopz
@michaelL12 (7)
• Chennai, India
29 Jan 14
It varies depending on the country. As far I know, in USA mortgage interest is compounded monthly whereas in Canada compounded every six months. In the UK usually compounded daily. The mortgage lenders are required to quote all interest rates using APR(Annual Percentage Rate). You can get more information from any Mortgage Brokers.
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