Rates are rising. Why some homeowners could be better off breaking their fixed mortgage

With interest rates rising, some homeowners could benefit from breaking their fixed mortgage. Factor Financial notes that break fees can be minimal in this environment, making it a good time to review your loan.

Falling property values may cause your bank to charge higher rates. It's worth exploring other lenders, as many offer attractive cashback deals that can offset switching costs and make a change profitable.

Before deciding, calculate all costs versus gains and check if you can make extra repayments.