{"id":530,"date":"2023-01-04T12:44:58","date_gmt":"2023-01-04T12:44:58","guid":{"rendered":"https:\/\/mortgagestogo.ca\/blog\/?p=530"},"modified":"2022-12-13T01:19:12","modified_gmt":"2022-12-13T01:19:12","slug":"should-i-break-my-mortgage-term","status":"publish","type":"post","link":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/","title":{"rendered":"Should I break my mortgage term? | MORTGAGESTOGO.CA"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lbksi13q-4681ce86e8ff003a0261986b7dc34c87\">\n#top .av-special-heading.av-lbksi13q-4681ce86e8ff003a0261986b7dc34c87{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-lbksi13q-4681ce86e8ff003a0261986b7dc34c87 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-lbksi13q-4681ce86e8ff003a0261986b7dc34c87 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-lbksi13q-4681ce86e8ff003a0261986b7dc34c87 av-special-heading-h1 blockquote modern-quote modern-centered  avia-builder-el-0  el_before_av_textblock  avia-builder-el-first '><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >Should I break my mortgage term?<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n<section  class='av_textblock_section av-lbksiqw4-bf1f46ca84d5b5ea7e4f671f4a307f48'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">It&#8217;s a question that&#8217;s been on many homeowners&#8217; minds lately: should I break my mortgage term and refinance at a lower rate?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are both pros and cons to doing this. On the one hand, you could save money on interest payments. However, you may have to pay a penalty for breaking your mortgage contract.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What&#8217;s the bottom line? Only you can decide what&#8217;s best for your individual case. But here are some things to mull over before making<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The pros and cons of breaking your mortgage term<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you sign up for a mortgage, you usually agree to a set term \u2013 which could be anywhere from one to five years. However, what happens if your situation changes and you want or need to leave your mortgage before the term is up?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are certain circumstances where it may be advantageous to break your mortgage term. One example is if you receive a new job offer in another city and need to sell your current home as a result. In this situation, you may have to pay a fee to break your mortgage so that you can purchase another home without being charged a penalty.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, there are some potential drawbacks to breaking your mortgage term. The most significant one is that you will probably have to pay a penalty \u2013 this is typically around 3% of the remaining balance of your mortgage. Also, if interest rates have increased since you got your original mortgage, you may end up having to pay a higher rate on your new mortgage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The decision of whether or not to break your mortgage term ultimately depends on your personal circumstances. If you\u2019re considering breaking your mortgage term, it\u2019s important to speak with a financial advisor. This way, you can compare the pros and cons and make the best decision for your individual case.<\/span><\/p>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-531 aligncenter\" src=\"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-300x300.png\" alt=\"breaking a mortgage term\" width=\"300\" height=\"300\" srcset=\"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-300x300.png 300w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-1024x1024.png 1024w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-150x150.png 150w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-768x768.png 768w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-36x36.png 36w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-180x180.png 180w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-705x705.png 705w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2-600x600.png 600w, https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2.png 1080w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/h2>\n<h2><span style=\"font-weight: 400;\">When it makes sense to break your mortgage term<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you&#8217;re a Canadian homeowner pondering whether or not to break your mortgage terms, here are some factors to take into account:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-The interest rate you have now: If interest rates have decreased since you got your mortgage, you could save money by refinancing to a lower rate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Your current financial situation: If you&#8217;re experiencing financial hardship, breaking your mortgage term may let you take advantage of reduced interest rates or other aid programs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Your future plans: If you&#8217;re planning to sell your home or refinance in the near future, breaking your mortgage term may not be the best option.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you&#8217;re thinking about breaking your mortgage term, compare the costs of doing so with the potential savings. You can use our mortgage penalty calculator to estimate the cost of breaking your mortgage term.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How to decide if breaking your mortgage term is right for you<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The idea of breaking your mortgage term may be enticing \u2013 you could save money on interest, pay off your home sooner or get some financial relief in the short term. But it\u2019s not always the right decision. You should weigh the pros and cons carefully before making a decision.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a few things to take into account before you decide to break your mortgage term:<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> Understand the implications. You will likely have to pay a fee \u2013 typically 3% of your remaining principal balance or interest rate differential (IRD) \u2013 if you break your mortgage term early. This could amount to thousands of dollars, so be sure you are ready to cover the cost.<\/span><\/li>\n<\/ol>\n<ol start=\"2\">\n<li><span style=\"font-weight: 400;\"> Consider the cost of breaking your mortgage term against the potential benefits. If you only stand to save a few hundred dollars, it may not be worth breaking your mortgage term. However, if you could save thousands of dollars, it may be worth considering.<\/span><\/li>\n<\/ol>\n<ol start=\"3\">\n<li><span style=\"font-weight: 400;\"> If you&#8217;re thinking about selling your home in the near future, factor that into your decision. You may not want to break your mortgage term if you are planning on selling, because you&#8217;ll likely have to pay a penalty when you do sell.<\/span><\/li>\n<\/ol>\n<ol start=\"4\">\n<li><span style=\"font-weight: 400;\"> Get professional advice. Talk to a financial advisor or mortgage broker to get their expert opinion on whether breaking your mortgage term is the right decision for you.<\/span><\/li>\n<\/ol>\n<h2><span style=\"font-weight: 400;\">The financial implications of breaking your mortgage term<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Although it may be appealing to break your mortgage in order to get a lower interest rate, there are a few things you must think about before taking this step. To begin with, you will probably have to pay a fee \u2013 usually three months\u2019 worth of interest or the greater of the two. In addition, depending on the terms of your mortgage, you could end up resetting the amortization period. This would mean that you would be paying off your mortgage for an extended amount of time (and as a result, paying more interest).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You should always consult with a financial advisor before making any decisions, especially when it comes to breaking your mortgage term. This way, you can figure out if it&#8217;s the right move for you.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The impact of breaking your mortgage term on your credit score<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you&#8217;re considering breaking your mortgage term, there are a few things you should know first.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Firstly, breaking your mortgage term entails a fee \u2013 usually amounting to 3% of your remaining mortgage balance. So, if you have a $200,000 mortgage with $50,000 left to pay off, breaking your mortgage would cost you $1,500.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the greater effect of breaking your mortgage term is on your credit score. Your credit score is impacted every time you take on new debt \u2013 and taking out a new mortgage will have a more significant effect than other types of debt like credit cards or lines of credit. So if you\u2019re considering breaking your mortgage term, it\u2019s important to understand how it could affect your credit score.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a few things that will affect how breaking your mortgage term will impact your credit score:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-How much debt you have: The greater the amount of debt you have, the more your credit score will be affected if you break your mortgage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; The effect will be lessened if you have a history of making all your payments on time. On the other hand, if you often miss payments or make them late, the effect will be greater.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-How long you&#8217;ve been borrowing: The greater the impact will be if you&#8217;ve been borrowing for a longer period of time (i.e., you&#8217;ve had a mortgage for longer).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Your credit utilization ratio: This is the proportion of debt you have in comparison to the amount of credit available to you. The bigger this ratio is, the more significant the effect on your credit score will be.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember that these are just general guidelines &#8211; everyone&#8217;s situation is unique and there are many other factors that can impact your credit score. So if you&#8217;re considering breaking your mortgage term, it&#8217;s always best to speak with a professional before making a decision.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How to prepare for breaking your mortgage term<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are a few things you should take into consideration before breaking your mortgage term. This can be a big financial decision, so you&#8217;ll want to be sure you&#8217;re thinking it through carefully. First, consider your current financial situation. Are you in a good place to afford the costs of breaking your mortgage? You&#8217;ll also want to think about your future plans. Are you planning on selling your home soon? If so, breaking your mortgage may not make sense. Finally, talk to your lender and see what their policies are around breaking your mortgage. They may charge fees or penalties that you&#8217;ll need to factor into your decision.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The first thing you need to do is figure out whether or not you can afford the penalties for breaking your mortgage term. These can range from 3-10% of your mortgage balance, so it\u2019s important to make sure you have enough money to cover this cost.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Secondly, you must figure out if it makes financial sense to break your mortgage term. To do this, compare your current interest rate to the current market rate. If the market rate is lower than what you&#8217;re paying now, refinancing at the lower rate may be a good idea. On the other hand, if the market rate is higher than your current interest rate, breaking your mortgage term might not make financial sense.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You need to think about the timing of breaking your mortgage term carefully. Many lenders charge higher penalties for breaking a mortgage term in the first few years. So, if you\u2019re thinking about breaking your mortgage term, it may be worth waiting a few years until the penalty is lower.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are many factors to consider before breaking your mortgage term. Be sure to do your research and speak with a financial advisor before making this decision.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The steps involved in breaking your mortgage term<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you&#8217;re thinking about breaking your mortgage term, there are a few things you&#8217;ll need to do first. Check with your lender to see if there are any penalties for doing so. You might also need to show evidence that you have the financial means to cover the balance of your mortgage. Once you have all the required information, you can start the process of breaking your mortgage term.<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> Get in touch with your lender and let them know you want to break your mortgage term.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> If you break your mortgage term, pay any penalties that may be associated with that.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Offer evidence of financial resources to pay the rest of your mortgage.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Start making payments on the new mortgage term.<\/span><\/li>\n<\/ol>\n<h2><span style=\"font-weight: 400;\">The risks and challenges of breaking your mortgage term<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A lot of homeowners are tempted to break their mortgage terms so they can get lower interest rates. However, there are a few things you should remember before making this decision.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a few things to keep in mind if you&#8217;re thinking about breaking your mortgage term. First, you may be charged a penalty by your lender. This fee can be quite expensive &#8211; often amounting to several months&#8217; worth of interest payments. Second, if you have an adjustable-rate mortgage, breaking your term could cause your interest rate to go up.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, remember that your home is likely your most valuable asset. Any time you make a change to your mortgage, there is some risk involved.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Before you decide to break your mortgage term, be sure to speak with your financial advisor about all of the risks and challenges involved.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"2\"><span style=\"font-weight: 400;\">MortgagesToGo.ca<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Website<\/span><\/td>\n<td><a href=\"http:\/\/mortgagestogo.ca\/\"><span style=\"font-weight: 400;\">Mortgagestogo.ca<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Services<\/span><\/td>\n<td><span style=\"font-weight: 400;\">New purchase, refinancing and equity takeouts, mortgage transfer, mortgage renewal Rates<\/span><a href=\"https:\/\/mortgagestogo.ca\/mortgage-rates\/\"><span style=\"font-weight: 400;\">\u00a0<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Rates<\/span><\/td>\n<td><a href=\"https:\/\/mortgagestogo.ca\/mortgage-rates\/\"><span style=\"font-weight: 400;\">https:\/\/mortgagestogo.ca\/mortgage-rates\/<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Address<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12 Royal Vista Way NW #1110, Calgary, AB T3R 0N2<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Contact Details<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(888) 888-5998<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Operating Hours<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Monday &#8211; Friday 9 AM &#8211; 5 PM<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"<p>Breaking your fixed-rate mortgage before the end of its term can help you save money, but there are a lot of factors to consider. Here&#8217;s what you need to know!<\/p>\n","protected":false},"author":3,"featured_media":531,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[12],"tags":[84,85,82,83],"class_list":["post-530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgages","tag-breaking-a-fixed-mortgage","tag-breaking-a-variable-morrtgage","tag-breaking-my-mortgage","tag-breaking-my-mortgage-term"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Should I break my mortgage term? | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog<\/title>\n<meta name=\"description\" content=\"Breaking your fixed-rate mortgage before the end of its term can help you save money, but there are a lot of factors to consider. Read more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Should I break my mortgage term? | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog\" \/>\n<meta property=\"og:description\" content=\"Breaking your fixed-rate mortgage before the end of its term can help you save money, but there are a lot of factors to consider. Read more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/\" \/>\n<meta property=\"og:site_name\" content=\"Mortgagestogo.ca Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-04T12:44:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"mortgages2go22@gmail.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mortgages2go22@gmail.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/\"},\"author\":{\"name\":\"mortgages2go22@gmail.com\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#\\\/schema\\\/person\\\/c10ea6685f40e319d2fe3f46e6aef41f\"},\"headline\":\"Should I break my mortgage term? | MORTGAGESTOGO.CA\",\"datePublished\":\"2023-01-04T12:44:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/\"},\"wordCount\":1989,\"image\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/Untitled-design-2-2.png\",\"keywords\":[\"breaking a fixed mortgage\",\"breaking a variable morrtgage\",\"breaking my mortgage\",\"breaking my mortgage term\"],\"articleSection\":[\"Mortgages\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/\",\"url\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/\",\"name\":\"Should I break my mortgage term? | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/Untitled-design-2-2.png\",\"datePublished\":\"2023-01-04T12:44:58+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#\\\/schema\\\/person\\\/c10ea6685f40e319d2fe3f46e6aef41f\"},\"description\":\"Breaking your fixed-rate mortgage before the end of its term can help you save money, but there are a lot of factors to consider. Read more.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/#primaryimage\",\"url\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/Untitled-design-2-2.png\",\"contentUrl\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/Untitled-design-2-2.png\",\"width\":1080,\"height\":1080,\"caption\":\"breaking a mortgage term\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/should-i-break-my-mortgage-term\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Should I break my mortgage term? | MORTGAGESTOGO.CA\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/\",\"name\":\"Mortgagestogo.ca Blog\",\"description\":\"When the Banks say NO TRUST Mortgagestogo.ca\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/#\\\/schema\\\/person\\\/c10ea6685f40e319d2fe3f46e6aef41f\",\"name\":\"mortgages2go22@gmail.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g\",\"caption\":\"mortgages2go22@gmail.com\"},\"url\":\"https:\\\/\\\/mortgagestogo.ca\\\/blog\\\/author\\\/mortgages2go22gmail-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Should I break my mortgage term? | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog","description":"Breaking your fixed-rate mortgage before the end of its term can help you save money, but there are a lot of factors to consider. Read more.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/","og_locale":"en_US","og_type":"article","og_title":"Should I break my mortgage term? | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog","og_description":"Breaking your fixed-rate mortgage before the end of its term can help you save money, but there are a lot of factors to consider. Read more.","og_url":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/","og_site_name":"Mortgagestogo.ca Blog","article_published_time":"2023-01-04T12:44:58+00:00","og_image":[{"width":1080,"height":1080,"url":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2.png","type":"image\/png"}],"author":"mortgages2go22@gmail.com","twitter_card":"summary_large_image","twitter_misc":{"Written by":"mortgages2go22@gmail.com","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/#article","isPartOf":{"@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/"},"author":{"name":"mortgages2go22@gmail.com","@id":"https:\/\/mortgagestogo.ca\/blog\/#\/schema\/person\/c10ea6685f40e319d2fe3f46e6aef41f"},"headline":"Should I break my mortgage term? | MORTGAGESTOGO.CA","datePublished":"2023-01-04T12:44:58+00:00","mainEntityOfPage":{"@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/"},"wordCount":1989,"image":{"@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/#primaryimage"},"thumbnailUrl":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2.png","keywords":["breaking a fixed mortgage","breaking a variable morrtgage","breaking my mortgage","breaking my mortgage term"],"articleSection":["Mortgages"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/","url":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/","name":"Should I break my mortgage term? | MORTGAGESTOGO.CA - Mortgagestogo.ca Blog","isPartOf":{"@id":"https:\/\/mortgagestogo.ca\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/#primaryimage"},"image":{"@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/#primaryimage"},"thumbnailUrl":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2.png","datePublished":"2023-01-04T12:44:58+00:00","author":{"@id":"https:\/\/mortgagestogo.ca\/blog\/#\/schema\/person\/c10ea6685f40e319d2fe3f46e6aef41f"},"description":"Breaking your fixed-rate mortgage before the end of its term can help you save money, but there are a lot of factors to consider. Read more.","breadcrumb":{"@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/#primaryimage","url":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2.png","contentUrl":"https:\/\/mortgagestogo.ca\/blog\/wp-content\/uploads\/2022\/12\/Untitled-design-2-2.png","width":1080,"height":1080,"caption":"breaking a mortgage term"},{"@type":"BreadcrumbList","@id":"https:\/\/mortgagestogo.ca\/blog\/should-i-break-my-mortgage-term\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mortgagestogo.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Should I break my mortgage term? | MORTGAGESTOGO.CA"}]},{"@type":"WebSite","@id":"https:\/\/mortgagestogo.ca\/blog\/#website","url":"https:\/\/mortgagestogo.ca\/blog\/","name":"Mortgagestogo.ca Blog","description":"When the Banks say NO TRUST Mortgagestogo.ca","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mortgagestogo.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/mortgagestogo.ca\/blog\/#\/schema\/person\/c10ea6685f40e319d2fe3f46e6aef41f","name":"mortgages2go22@gmail.com","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/859c3a2b9af696582346d3cdf4d39e85b9670d7dd9242817d49171027e0a32a4?s=96&d=mm&r=g","caption":"mortgages2go22@gmail.com"},"url":"https:\/\/mortgagestogo.ca\/blog\/author\/mortgages2go22gmail-com\/"}]}},"_links":{"self":[{"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/posts\/530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/comments?post=530"}],"version-history":[{"count":2,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/posts\/530\/revisions"}],"predecessor-version":[{"id":555,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/posts\/530\/revisions\/555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/media\/531"}],"wp:attachment":[{"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/media?parent=530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/categories?post=530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mortgagestogo.ca\/blog\/wp-json\/wp\/v2\/tags?post=530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}