When you combine the mortgage rate from an existing mortgage with the mortgage rate from a new mortgage and blend them into a new rate somewhere in-between the two. You would get a blended mortgage to avoid breaking your mortgage early – to access equity and/or obtain a lower mortgage rate – and having to pay the prepayment penalty required to do so.
« Back to Glossary Index
VIEW ALL
Eye lens regeneration from own stem cells
September 30, 2016Sense of smell may predict Alzheimer’s risk
September 30, 2016