No penalty to switch from variable to fixed with TD. I've done it before when the prime was increased like crazy few years ago.b31770 wrote: ↑ My mortgage is not recent, so my variable rate is higher. I'm doing the math to see if it makes sense to lock in a lower fixed rate.
I read my contract, and have calculated the penalty to break it. But again, my question is what are the options if I wanted to STAY with TD and possibly convert my variable to a fixed. I truly don't know, so that is why I am asking.
Theoretically, the cost would be lower, and they would retain a mortgage, right?
Save a lot but end up spending more