Your Lender Won't Tell You This About Refinancing

Описание: Thinking about refinancing your mortgage in Canada? A lower rate doesn't always mean a better deal.In this video, I break down exactly how mortgage penalties work in Canada — including the difference between three months' interest and IRD (Interest Rate Differential) — and why chasing a 0.1% lower rate could actually cost you over $13,000.You'll learn:

How lenders use "posted rates" to inflate your penalty
The Break-Even Trigger — how to know if refinancing actually saves you money
When breaking your mortgage DOES make sense (debt consolidation, optionality)
Why timing and negotiation matter more than the rate itself
The 4 numbers you MUST know before making any move
Don't make a $30,000 mistake.

Watch this before you refinance.

Want me run the breakeven calculator for you and monitor your rates daily?

Navigating fluctuating mortgage rates can be tricky, and this video offers crucial mortgage tips to avoid common pitfalls. We explore why understanding every aspect of your mortgage explained is vital before making decisions, especially when considering refinancing. This personal finance guide aims to help you secure the best home loan without future regrets.

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00:00 intro
01:45 Two types of mortgage penalties
02:27 posted rates
03:10 case study
04:07 soccer analogy
05:47 break-even trigger
06:42 The fourth factor
07:30 direction of interest rates
08:56 conclusion