Thank you to u/coast-to-coast88 for saving me $18k

Just wanted to give a shout out to u/coast-to-coast88 for posting this a while back.Unbeknownst to me I’d already completed step 1 back in December 2020 by blending and extending my then 3.14% rate down to a 2.76% rate with Scotia. Had 3.5yrs remaining on the 3.14% at the time and cost to break was like $27k.After reading that post and associated article I jumped on to an application with Tangerine (where I bank anyway) right away. Long story short I’ve just finished switching from my blended 5yr 2.76% to a 1.69% 5yr fixed with Tangerine. Plus HELOC went from 2.95% to 2.35%. Tangerine also kicked in an extra $1750 to cover lawyer fees and appraisal. Break fee amounted to $2800 plus $250 discharge fee.That’s a net saving to me of over $18000 over 5 yrs.And as an aside, throughout both rate reductions we’ve kept our payment the same accelerated b/w amount that we were originally paying on the 3.14% term. Resulting in about $25k less owing after 5yrs than had I done nothing and just kept the 3.14%. via /r/PersonalFinanceCanada https://ift.tt/3cCTivj