Overview

penalty interest payment


Show Summary Details

Quick Reference

(PIP) (Canada).

Penalty interest charged to mortgage takers in the event of prepayment exceeding permitted levels. It aims to partially compensate the lender for higher than anticipated prepayment risk (cf. extension risk).

[...]

Subjects: Economics.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.