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Mortgage applications surge

Despite interest rate volatility, mortgage applications moved decidedly higher last week, continuing their strong stride into spring.

How lump-sum payment affects your mortgage

Dear Dr. Don, I switched to a 15-year mortgage about four years ago. There's now about 11 years left on the note. The interest rate is 4.75 percent. I'm curious how a $50,000 one-time payment made toward interest affects the payoff date.

Mortgage rates to decline following central bank's rate cut: economists

Economists were expecting rates to dip slightly in response to the Bank of Canada's surprise move Wednesday to cut its trend-setting interest rate to 0.75 per cent, from one per cent, to soften the blow of dropping oil prices on the Canadian economy. “This signals that low interest rates will be with us a while longer,” said Avery Shenfeld, the chief economist at CIBC World Markets, noting that …

Make 2015 the year you get your finances sorted

Your mortgage It's probably your biggest bill but too few people realise how much money they could save if they put some thought into managing their mortgage. Do you have the right interest rate, loan structure and term?ASB's…

Millions fear missing January’s rent or mortgage payments, says Shelter

Interest rate rise would put many more in trouble, with almost 60% saying they are already struggling to meet housing costs More than 3m households in Britain fear missing their rent or mortgage payments this month, Shelter has said, adding that an interest rate rise would put many more in trouble. Research from the housing and homelessness charity shows that almost 60% of people say they are …