Open vs Closed Mortgages Explained
Published on: 27/11/2025
Open vs closed mortgages explained. Learn the differences, pros and cons, and how to choose the best mortgage type for your financial goals.
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Open vs closed mortgages explained. Learn the differences, pros and cons, and how to choose the best mortgage type for your financial goals.

Learn what mortgage penalties are and how Canadian banks calculate them. Understand IRD, three-month interest penalties, and how to avoid costly mortgage break fees.