SIMPLE-INTEREST MORTGAGE
Simple-interest mortgage is a mortgage wherein the computation of interest takes place daily. A traditional mortgage computes interest monthly. The computation of a daily interest charge in the simple-interest mortgage is done by dividing the interest rate by 365 days and then multiplying it by the amount of the mortgage balance. With the same concept. a monthly interest charge is determined the same way. For a short cut, just multiply the daily interest charge by the number of days in the month.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 13:00 | CBI retail sales volume balance | Nov | |
| 17:00 | New Home Sales | Oct | |
| 02:01 | BRC Shop Price Index | Nov | |
| 02:30 | Retail Sales | Oct | |
| 03:18 | BOE Deputy Governor for Markets & Banking Sir David Ramsden Speaks | ||
| 07:00 | BOJ Core CPI | Oct | |
| 09:00 | GfK Consumer Climate | Dec | |
| 11:00 | M3 Money Supply | Oct | |
| 11:00 | Private Sector Credit | Oct |
