What Is Proration?

Proration is an accounting term that refers to the allocation of a financial asset or liability over time according to its schedule of payments. For example, if a company pays its employees on the first of every month, but one employee quits on the 15th of the month, the company would prorate that employee’s salary … Read more

Understanding Variable Rate Mortgages.

A variable rate mortgage is a type of home loan where the interest rate is not fixed and can fluctuate over time. This means that your monthly repayments can go up or down depending on changes in the market. Variable rate mortgages usually start off with a lower interest rate than fixed rate mortgages, but … Read more