Pre-GFC, I fixed a mortgage rate. When interest rate subsequently dropped, I was faced with some exorbitant break costs which seemed to increase the more that interest rates decreased. I'm wondering what could happen in the reverse situation. For example if I fixed a mortgage at 5%, and then the variable rate increased to say 7%, would I be looking at anything like the same break costs? (Assuming that I had to break) Does anyone have any specific experience of this? tia.