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Current Mortgage RatesVariable closed: 1.65% 1 year closed: 1.64% 3 year closed: 1.59% 5 year closed: 1.69% 10 year closed: 2.84% Glossary
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GLOSSARY
Canadian Financial, Real Estate and Mortgage Glossary
How often this word is used
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50% - Moderately
50% - Moderately
Annuity in Arrears
Synonyms: | back payment, held in arrears, held-back annuities, postpone |
Filed Under: | annuities, financial-banking, investments |
Tags: | annuity, banking, investment |
Definition of annuity in arrears
- annuity in arrears
- 1. An arrangement where payments are made at the end of each period instead of at the beginning. An example of an annuity in arrears would be mortgage payments, which are paid to cover the previous period's principle and interest. Also known as an "ordinary annuity."
Related Terms and Acronyms:
- annuity A financial instrument that disperses a number of payments over a set period of time.
- annuity in advance When payments are made at the start of a period as opposed to the end.
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