How Mortgage Penalties Are Calculated
If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen: you can expect to pay a higher interest rate over the remainder of your term and could end up paying a significantly higher mortgage penalty should you need to break your mortgage before the end of the term.
We've put together this video to explain how mortgage penalties are calculated, and the significant difference between the Fixed vs Variable.
Mortgages can be complex. It’s important to work with an experienced professional who understands your unique financial situation and ensure that your needs are being met now and in the future, working with you every step of the way.
