Quote:
Originally Posted by Tegra_Devil
Has anyone looked into paying the penalty to get out of a 5yr Fixed mortgage, and renew the mortage under a lower rate if the interest rates tank hard like the states. I feel you would pay (depending on home value) like $5000 in penalties, but save over $15000 in interest payments on much lower rate fixed term.
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I have been thinking of this too, just started my mortgage two weeks ago
