TD overhauls mortgage program as housing market slows

TD Bank is revamping its mortgage program, making it easier for homeowners to tap into their equity and harder for them to switch to another lender when their mortgages come up for renewal. At the heart of the overhaul is a switch to collateral-charge mortgages, which are similar to lines of credit. The bank is…


Central banks must raise interest rates

There is an urgent need for industrialized economies to begin cutting their debt-laden budgets and central banks to hike interest rates — or else face the risk that inflation gets unwieldy, the OECD warned Wednesday in its latest global economic outlook. “Exit from exceptional fiscal support must start now, or by 2011 at the latest,…


Vendor financing may be a creative way to sell a home

Vendor financing, one of the less well-known ways to buy a home, is one of the most flexible means to pay for it. Rather than having a bank or mortgage company lend money, the seller of the house, known as the vendor in property-speak, gets money from the buyer with whatever terms have been negotiated.…


How much home can you afford?

Want to know how much home you can afford to buy? First off, it depends on a number of factors. The most important factors are your gross income, your down payment and the mortgage interest rate. Your assets and liabilities are also factors in how much home you can afford. Use our Mortgage Affordability Calculator…