Variable closed:	1.65%
1 year closed:	1.64%
3 year closed:	1.59%
5 year closed:	1.69%
10 year closed:	2.84%

Mortgage Super Brokers > Library & Listings > Glossary > Definition: Annuity in Arrears

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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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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