Interest Rate Differential (IRD) - Canadian Mortgage Trends
Interest Rate Differential (IRD). The IRD is a compensation charge that may apply if you pay off your mortgage prior to the maturity date, or pay the mortgage .
http://www.canadianmortgagetrends.com/canadian_mortgage_trends/interest-rate-differential-ird.html

Every day, we search the web to find the

Michael James on Money: Interest Rate Differential on Mortgages
Jun 1, 2009 . When homeowners try to break a fixed-rate mortgage, they can be blind-sided by a whopping interest rate differential (IRD) penalty.
http://michaeljamesmoney.blogspot.com/2009/06/interest-rate-differential-on-mortgages.html


Understanding Mortgage Pre-Payment Charges - RBC Royal Bank
There may be no financial benefit to breaking your mortgage contract. The interest rate differential, depending on the details of your mortgage, may eliminate any .
http://www.rbcroyalbank.com/mortgages/mortgage-prepayment-charges.html

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Mortgage Penalty Calculator - RateSupermarket.ca
Mortgage Penalty Calculator - Calculate different the mortgage penalty options: IRD (Interest Rate Differential) mortgage penalty vs 3 month's interest payment .
http://www.ratesupermarket.ca/mortgage/penalty_calculator/

Why are mortgage rates hitting record lows? - Business - CBC News
Jan 13, 2012 . Is it worth your while to try to break your current mortgage to get in on the new deals? . A fixed-rate mortgage features an interest rate that is fixed for a . the current mortgage rate, known as the interest rate differential penalty; .
http://www.cbc.ca/news/business/story/2012/01/13/f-mortgage-rates-record-low.html

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What to know before you refinance
Borrowers should opt for a fixed-rate mortgage, rather than an ARM. . But while the break-even point is easy enough to calculate, other factors may also influence . mortgage, known as an ARM, because the interest rate differential isn't large .
http://www.bankrate.com/finance/mortgages/what-to-know-before-you-refinance-1.aspx

TD Canada Trust | Mortgage Prepayment.
By reducing the principal balance of your mortgage, you will reduce the balance on which the Interest Rate Differential (IRD) or 3 months' interest is calculated.
http://www.tdcanadatrust.com/products-services/banking/mortgages/ird-calc.jsp

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Breaking a mortgage [Archive] - Canadian Money Forum
Apr 22, 2009 . The fees for breaking the mortgage contract are set out in the contract itself ( typically it's 3-months interest or the "interest rate differential", .
http://canadianmoneyforum.com/archive/index.php/t-212.html

Breaking a mortgage can be costly
Jun 19, 2009 . Homeowners looking to break their mortgages to save money should . That would trigger an interest-rate-differential penalty of some $9000.
http://www.vancouversun.com/business/money/Breaking+mortgage+costly/1710637/story.html

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How will my prepayment charge be calculated if I break my ...
May 18, 2011 . If you have a closed mortgage, your lender may allow you to break your contract if you . balance of your mortgage, or; the interest rate differential (IRD): in simplified terms, this . B is the annual interest rate on your mortgage .
http://www.fcac-acfc.gc.ca/eng/resources/faq/qaview-eng.asp?id=285

Breaking a Mortgage - Be an Informed Mortgage Manager
penalties for breaking a mortgage. . Interest Rate Differential Penalty– in this case the bank is trying to recover the lost interest revenue as a result of you paying .
http://calumross.com/articles/mortgage-articles/breaking-a-mortgage/

Realty Times - Canada's New Mortgage Code Makes Prepayments ...
Mar 13, 2012 . "In the low interest rate environment of the past few years, many people wanted to break their mortgage to take advantage of lower interest rates, but may . interest rate differential (IRD) option that appears in many mortgage .
http://realtytimes.com/rtpages/20120313_mtgcode.htm

What to know before you refinance - MSN Real Estate
But while the break-even point is easy enough to calculate, other factors may also . You're willing to pay points to lower the interest rate on your new loan. . a hybrid loan or adjustable-rate mortgage, because the interest-rate differential isn't .
http://realestate.msn.com/article.aspx?cp-documentid=17642195

Is it worth it to break your mortgage?
Is it worth it to break your mortgage? . Original Mortgage Rate info . We calculate this based in the estimated interest rate differential or 3 months interest, .
http://breakyourmortgage.com/

How Much Could You Save By Breaking Your Mortgage ...
Feb 2, 2012. breaking your mortgage - three months interest or Interest Rate Differential(IRD ). If you're like many Canadian homeowners, you've likely got .
http://www.monstermortgage.ca/news/2012/02/Should-I-Break-My-Mortgage/

Mortgage Penalties | RateSupermarket Learn
Mortgage Penalties Debunked:How Much will it Cost to Break my Mortgage . Interest Rate Differential (IRD): the difference between your original interest rate .
http://www.ratesupermarket.ca/learn/mortgage/mortgage-penalties/

Mortgage Penalty - MortgageCalculatorLoan.ca
Video to Learn about Mortgage Penalties, Free Penalty Calculator, Free . Banks are not clear and transparent regarding interest rate differential . A small number of lenders prohibit breaking a mortgage early unless you sell your property.
http://www.mortgagecalculatorloan.ca/Canada/mortgage-penalty/

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Scotiabank - Mortgage Prepayment Charge Calculator
If you have a fixed rate mortgage, what discount were you given to get this rate? % . Where the prepayment charge is an interest rate differential, the calculator tool . For the exact prepayment charge and other costs associated with breaking .
http://cgi.scotiabank.com/mortgage/Scotia_Prepayment.html

Mortgageplayground's Blog
2 days ago . When you cancel or break a mortgage you will be charged the greater of three months' interest or the Interest Rate Differential better known as .
http://mortgageplayground.wordpress.com/

Break the mortgage before debt breaks you - The Globe and Mail
Nov 28, 2011 . Let's start with the breaking the mortgage part. . The lower these rates are, the bigger the interest rate differential that someone breaking a .
http://m.theglobeandmail.com/globe-investor/personal-finance/rob-carrick/break-the-mortgage-before-debt-breaks-you/article2252646/

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  • Break Your Mortgage | General
    One significant barrier to exit your mortgage is INTEREST RATE DIFFERENTIAL or IRD. IRD is a penalty that allows your disgruntled lender to charge you the .
    http://www.morcandirect.com/General/break-your-mortgage

  • Refinancing Your Home Mortgage. Is It Worth It?
    This is the greater of three months interest or the interest rate differential (IRD), which . One interesting strategy is you are planning to break your mortgage is to .
    http://www.moneysmartsblog.com/refinancing-your-mortgage-is-it-worth-it/

  • What Is the Penalty for Breaking a Mortgage? | eHow.com
    You have to pay either an interest penalty or an interest rate differential penalty when you break a mortgage. The bank calculates both rates and whichever .
    http://www.ehow.com/facts_6848880_penalty-breaking-mortgage_.html

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  • Mortgage refinancing: the interaction of break even period, taxes ...
    Mortgage refinancing: the interaction of break even . Mortgage interest rates have also decreased. . interest-rate differential needed to justify refinancing.
    http://www2.stetson.edu/fsr/abstracts/vol_16_num3_p197.PDF

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  • Refinance Mortgage: How Much Interest Can You Save?
    Jul 28, 2011 . To break your current mortgage after 2 years of payments and with 3 years remaining you would be charged an interest rate differential (IRD) .
    http://www.boomerandecho.com/refinancing-your-mortgage-how-much-interest-can-you-save/

  • Canadian Mortgage Rates: Variable vs. Fixed Mortgage Rates ...
    Mar 5, 2012 . Providing information on Canadian mortgage rates and variable rates vs Fixed . The prepayment penalty for a variable rate mortgage (breaking the . a fixed rate mortgage is 3 month interest or IRD (interest rate differential) .
    http://www.canquestmortgage.com/variable-rate-mortgages.php

  • Is the mystery of the Interest Rate Differential - Axiom Blog - Axiom ...
    Mar 7, 2012 . Usually, the cost of breaking your mortgage is either three months' interest or the Interest Rate Differential (IRD) – whichever is greater. It's the .
    http://www.axiommortgage.ca/frontblog/2012/03/07/137-is-the-mystery-of-the-interest-rate-differential-about-to-be-solved.html

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    Feb 12, 2009 . 3 month-Interest Rate Differential Calculator – Excel Spreadsheet . The problem in breaking a mortgage is the penalty that lenders charge.
    http://www.howtobesetforlife.com/ask-an-expert/mortgage-refinancing-strategies/

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  • CanadaMortgageNews.ca
    You can still benefit from these historically low interest rates. . with Interest Rate Differential penalties for Fixed rates that vary depending . I'm sure the BIG SIX Banks will love to see you break your mortgage and pay their infamous penalties.
    http://canadamortgagenews.ca/

  • Mortgage Canada Articles
    We have been breaking mortgages for years and have no doubt that we can . When you find yourself in a high interest rate fixed mortgage the task of . One significant barrier to exit your mortgage is INTEREST RATE DIFFERENTIAL or IRD.
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  • Let's talk 7 and 10 year fixed mortgage rates… | Mortgage Superhero®
    In Canada, when you break a fixed rate mortgage prior to maturity there is usually a penalty attached to this action. It is called an IRD, interest rate differential .
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  • Breaking Your Mortgage Contract - What to Know
    Mar 16, 2012 . Typically, when you break a mortgage, your lender will charge you the higher of your three months' interest or the IRD (interest rate differential).
    http://www.homebasemortgages.ca/mortgage-news/should-you-break-your-mortgage/

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  • Fixed Rate Mortgage Exit Fees
    Feb 8, 2009 . The actual cost of breaking a fixed rate mortgage varies significantly. . Basically, you are paying the whole interest rate differential up front to .
    http://smartsearchfinance.com.au/blog/fixed-rate-mortgage-exit-fees/

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  • Breaking your mortgage: 'It's either worth it or it's not' | Refinancing ...
    Mar 14, 2012 . When you cancel or break a mortgage you will be charged the greater of three months' interest or the Interest Rate Differential better known as .
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    Feb 24, 2012 . The pre-approval may guarantee the interest rate for a mortgage taken . You may want to break the mortgage contract if you sell your home; if you . the greater of three months' interest, or the interest rate differential (IRD).
    http://www.cba.ca/en/consumer-information/41-saving-investing/89-mortgages

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  • TD Canada Trust - Mortgages - Glossary of Mortgage Terms
    Interest Rate Differential Amount (IRD) - An IRD Amount is a prepayment charge that may apply if you pay off your mortgage principal prior to the maturity date or .
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    Were you a BMO Bank of Montreal Mortgage customer? . greater of the 3 month interest penalty or the IRD (Interest Rate Differential). . The bank is entitled to its interest equivalent and the borrower is entitled to the correct IRD fee to break a .
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  • winnipeg interest rate | Winnipeg's Best MortgageWinnipeg's Best ...
    Feb 25, 2012 . 10 year mortgage rates, understanding the odds in your gamble . is 3 months interest payment and not Interest Rate Differential (IRD) like 1 . This will help you understand what your break even interest rate is in 5 years time.
    http://www.winnipegmortgageinfo.com/category/winnipeg-interest-rate/

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  • Canadian Mortgage Penalties | eHow.com
    Interest Rate Differential. Under a closed mortgage, the bank locks in your interest rate for a predetermined period. If you pay off your mortgage early and break .
    http://www.ehow.com/list_6728960_canadian-mortgage-penalties.html

  • Michael James on Money: Gaming Mortgage-Breaking Costs
    Nov 24, 2011 . Trying to break a mortgage before your term is up can be a . will ask for an " interest rate differential" (IRD), which is a mortgage-breaking fee.
    http://michaeljamesmoney.blogspot.com/2011/11/gaming-mortgage-breaking-costs.html


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  • Fixed-rate Mortgage Penalties: Paging Mr. Flaherty | Dave The ...
    To be clear, I am not against charging a penalty to mortgagors who break . be calculated as the greater of three-months interest or interest rate differential (IRD) . . Assume a $300000 mortgage with an interest rate of 5% that has two years .
    http://www.integratedmortgageplanners.com/blog/buyer-beware/fixed-rate-mortgage-penalties-paging-mr-flaherty/

  • Read before breaking your mortgage - The Globe and Mail
    Mar 25, 2010 . The best way to find out the cost of breaking your mortgage is to use a . your mortgage, or an amount called the interest rate differential (IRD).
    http://www.theglobeandmail.com/globe-investor/personal-finance/read-before-breaking-your-mortgage/article1511428/

  • Zoocasa Real Estate Blog: Best money-saving mortgage tips
    Feb 27, 2012 . Typically the penalty for breaking a mortgage is 3 months interest or the IRD ( Interest Rate Differential) - whichever is greater - and the lower .
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  • Nova Scotia Real Estate | Your Local Real Estate Blog
    Apr 6, 2012 . When you cancel or break a mortgage you will be charged the greater of three months' interest or the Interest Rate Differential better known as .
    http://stevengiffin.wordpress.com/

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  • Pay down the mortgage? - mortgage finance interest | Ask MetaFilter
    Nov 13, 2009 . If they break the mortgage, they would pay an interest rate differential of about $17k. They could refinance at around 4% fixed or 2.2% variable, .
    http://ask.metafilter.com/138053/Pay-down-the-mortgage


When Should Borrowers Refinance Their Mortgages?
reduces to the choice of an optimal interest rate differential. At this opti- . offered a mortgage calculator based on a break-even calculation. Of those 80, 30 .
http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.170.9784&rep=rep1&type=pdf

Should I Refinance My Home? | Bills.com: Find. Save. Learn.
Refinance | At what interest rate would it make sense for me to refinance my home? . table that helps you calculate the break-even point for a mortgage refinance. . left on your current mortgage, and the interest rate differential is not too large.
http://www.bills.com/should-i-refinance-my-home/

Every day, we search the web to find the very

How to Save Money When Refinancing A Home Mortgage
If you *DO* decide to break your mortgage, there's an easy way you can save . method for calculating the penalty called the interest rate differential (IRD).
http://www.moneysmartsblog.com/how-to-save-money-when-breaking-a-mortgage/


Mortgage penalty can be a shocker - thestar.com
Mar 11, 2009 . A s interest rates fall to record lows, you may want to break your mortgage and negotiate a lower rate. But the penalty charges can be .
http://www.thestar.com/unassigned/article/600049--mortgage-penalty-can-be-a-shocker

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