Quote:
Originally Posted by blankall
Longer amortizations make sense if you are renting the place out. The interest portion is a write off, while the capital portion is not. It makes sense to stretch the mortgage out as long as possible. There's also nothing stoping you from paying extra money towards the capital and de facto turning it into a shorter amortization. You basically have more flexibility.
This move should delay the increase in interest rates.
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Just becuase the interest is tax deductible does not mean it makes more sense to pay more of it over the life of the mortgage. You will still pay more interest, even though the tax effect reduces the impact.