Mortgage penalties by Canadian Banks
Mortgage penalties by Canadian banks are day light robberies.
It’s easy to get caught in the posted mortgage rate trap at the big Canadian banks.
No, you won’t have to pay the posted rate on your next mortgage. Pretty much nobody does that any more. The real danger is that posted rates will be used to calculate the penalty if you ever have to break your mortgage, probably costing you thousands of extra dollars from all Canadian banks.