Mortgage penalties for breaking fixed-rate deals have nearly doubled in 2025, averaging $6,732. Reasons to rework mortgages include chasing lower rates, moving, renovating, or consolidating debt. Penalties vary by lender; some offer fairer terms or options like variable rates, combined loan plans, or prepayment privileges to reduce costs. Timing and lender choice are key to minimizing penalties. Consulting a mortgage broker can help navigate options.