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枫下家园 / 住房话题 /
tor
Hi, all. Just found that the interest for fixed mortgage would be compounded semi-annually, while for variable rate mortgage, it would be compounded monthly.Which way is better and save us money? How to calculate this? Thanks for all valuable thinkings.
-xiaopang(xiaopang);
2003-1-14
{96}
(#975996@0)
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Check your information source carefully. Variable rate mortgage should also compound semi-annually.
-dundas888(登达寺);
2003-1-14
(#976074@0)
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Please refer here: http://www.royalbank.com/rates/mortgage.html
-xiaopang(xiaopang);
2003-1-15
(#976438@0)
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Hi, dundas, did you see this? I want your professional opinion. Did I misunderstand the policy due to my poor english?
-xiaopang(xiaopang);
2003-1-15
(#978518@0)
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For variable rate, the rate has to be adjusted monthly in case the prime rate has changed in that month. If it does not change, it is still compounded semi-annually. That is my understanding. Please check your email.
-dundas888(登达寺);
2003-1-16
(#980276@0)