Getting rid of a fixed-rate home loan: Is this possible?

Submitted by Capkon on Mon, 04/20/2020 - 17:09

Fixing your home loan over a certain period gives you a level of certainty from the future interest rate movement. It also offers you peace of mind as your monthly repayment on a home loan is fixed no matter what happens during that period. However, things do not always go the way we want. When interest rates move faster and current rates are much lower than what you have fixed your rate at, the same decision for the fixed-rate arrangement starts becoming a bit of a burden.

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