Is your refinance rate worth the breakage?

Refinances are priced higher than purchases or renewals (uninsured, conventional). The math has to clear breakage penalty + legal fees. We'll show you both sides.

✓ Refinance-specific (uninsured) market benchmark
✓ Real interest savings vs your current rate
✓ Account for amortization extension and equity take-out

Based on Canadian mortgage data

Updated Apr 20, 2026

Used by buyers across Canada

Before you refinance, check this

IRD penalties are brutal

Big-bank Interest Rate Differential penalties can run $10K–$25K+. Always get the exact payout figure first.

Resetting amortization

Going from 18 to 30 years drops the payment but adds tens of thousands in lifetime interest.

HELOC vs refi

If you only need access to equity, a HELOC may be cheaper than breaking your mortgage.

Blend & extend

Some lenders let you blend your old rate with a new one — often beats breaking outright.