Quote:
Originally Posted by bcrdukes
I'm getting a blended rate as well in a few weeks. I'm almost 3 years into a 5 year term, so the penalty to break my existing mortgage is way too expensive. Hopefully the interest rate stays low, when I renew next, but that's wishful thinking. 
My rate was 3.65% (ouch) thanks to Donald Trump and the economic situation at the time, but c'est la vie. The blended rate will bring it down by a bit, but will certainly not make it worthwhile to break the existing mortgage. I think my penalty is somewhere between $12K - $15K. |
On the exact same boat as you with a slight better 3.19%.