The Canadians don’t use the same compound system as the rest of the world!

In the USA, UK and and everywhere else, interest rates are compounded monthly.
This means that when you come to pay off your loan, your rates are compounded at every month, if you repay bi-weekly, the rates will again be compounded monthly.

However, they do it differently in Canada!
Canadian mortgages are compounded every six months. Even when someone pays monthly, the interest rate is calculated on a semi-annual base.

If your Property address is in Canada, then the Canadian Mortgage Calculator will the one that is shown on your Canadian Property Website!

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