RBC breaking variable mortgage for a lower rate?
Now apparently we can get 1.5% for the same 5 year, but it will cost $5000 to break the contract to get the lower rate.
Is this legit? If our rate is already variable why are we paying a 3 month break fee to get a lower interest rate?
I feel like we got sharked during the mortgage process because how can the rate drop 0.3% from mid dec to now?