The average credit card interest rate is around 15%.
By comparison, mortgage rates are currently in the 3–4% range.
A lot of us may not be financial gurus or analysts who can simply calculate interest rates and monthly amortizations in the blink of an eye.
It is because of this that managing all of our existing loans can be such a challenging task.
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Using this calculator can help you solve your debt problems by coming up with a payback plan that would best suit your budget.
Use our refinance calculator to see if you have enough equity to reach your financial goal.It’s possible to add the costs associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing.However, refinancing to get cash out or consolidate your debt may result in a longer loan term or a higher rate, and that might mean paying more in interest overall in the long run.Unfortunately, taking on additional debt is not always manageable.This is where refinancing to a debt consolidation home loan may be useful.