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Mark Ting's advice on breaking your mortgage to get a lower rate

Mortgage rates in Canada are down and could fall further following the Bank of Canada's 0.25 per cent cut in the overnight lender rate. On the Coast's financial columnist, Mark Ting offers this advice. Fixed mortgages are much more complicated and the penalties can run into the tens of thousands as they are based on a formula called the interest rate differential (IRD).

Mortgage delinquency rates, foreclosures fall in Iowa City, Cedar Rapids

Foreclosure and mortgage delinquency rates fell in Cedar Rapids and Iowa City in November compared with the same month of 2013, according to CoreLogic of Irvine, Calif. The rate of Cedar Rapids area foreclosures among outstanding mortgage loans was 0.92 percent for November, a decline of 0.69 percent compared with 1.61 percent in November 2013. Foreclosure activity in Cedar Rapids also was lower …