Hold that smile! Last week, the Bank of Canada lowered interest rates to 2.75%— more digestible than a year ago. If your mortgage rate is 5.5% or higher, it might be a good time to look at that overbite.
It’s worth connecting with your mortgage broker to see what’s possible. With an assessment of penalties for breaking your current mortgage, refinancing could save you money. Why bite off more than you can chew if you don’t have to?
We’d be happy to connect you with a trusted broker who can assess your situation and break down the numbers.