GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Rates Terms

Previous Page
Accrued InterestRate Lock-in
 
Currently Displayed — Page 2
Rate of Interest — Zero-Interest Rate Policy
 
rate of interest (ROI)Acronym
A percentage charged on a loan or paid on an investment for the use of the money.
  ➥  Same as interest rate.
short term interest rate (STIR)Acronym
simple interest (SI)Definition (Financial-banking)
Interest computed only on the principal balance, without compounding.
small business interest rate (SBIR)Acronym
Special interest rates banks use for business loan that are typically higher then personal loan.
step-rate mortgageDefinition (Mortgages)
A fixed-rate home loan on which payments are lower at the beginning, typically for two years, and which then rise.
teaser rateDefinition (Mortgages, Financial-banking)
Often called the introductory rate, it is the below-market interest rate offered to entice customers to switch credit cards or lenders.
unemployment rateDefinition (Investments, Financial-banking)
The percentage of the labour force that is not employed but currently seeking work.
usurious rateDefinition (Financial-banking)
An interest rate that is unnecessarily high or well above legal rates. For example, sometimes intangible property taxes are applied to income from usurious rates.
variable interest rateDefinition (Mortgages, Financial-banking)
Percentage that a borrower pays for the use of money, and which moves up or down periodically based on changes in other interest rates.
variable rateDefinition (Mortgages, Financial-banking)
A floating percentage value that fluctuates based on certain conditions.
variable rate mortgage (VRM)Definition (Mortgages)
Home loan in which the interest rate is changed periodically based on a standard financial index. Also called an "Adjustable-rate Mortgage."
  ➥  A type of mortgage loan offered by brokers and lenders.
weighted average interest rate (WAIR)Acronym
zero-interest rate policy (ZIRP)Acronym
A macroeconomic term describing conditions in which countries exhibit no or very slow economic growth with a very low interest rate.
Previous Page
Accrued InterestRate Lock-in
 
Currently Displayed — Page 2
Rate of Interest — Zero-Interest Rate Policy
 

Search the Glossary

Index of Rates Terms

Page 1: Accrued Interest
Rate Lock-in
Page 2: Rate of Interest
Zero-Interest Rate Policy

Notable Terms

Mortgage Rates
With the rates they offer, applying for a mortgage at your bank is like throwing your hard-earned money in the trash. We offer amazing mortgage rates, apply today!
Mortgage Rates
 
Try Our Mortgage Calculator Now
Did you know that by increasing your down payment from 5% to 20% on a $500,000 home you can save yourself almost $11,000 in interest and over $13,000 in CMHC mortgage insurance premiums? Try our mortgage calculator and find out how a simple change in your down payment amount can save you thousands of dollars.
Calculator Buttons
 
Mortgage Brokers are Faster than a Bank
Getting a mortgage through the bank is a long and painstaking process. Our mortgage brokers are able to get credit checks and pre-approvals for you in a fraction of the time. It's never been easier to buy a home. Through a broker you'll be living comfortably in your new home faster than you think.
Mortgage Brokers Work For You