In the current climate I don't understand accelorating payments. Your interest rate should under 3%. There is really no insentive to try to pay anything off faster unless your amortization date is later than your target retirement date.
I'm probably 30 year from retirement I have about 20 years left on my current mortgage, my payment is low enough that I can put a bit of money into an investment account. there is no way I would offer to accelerate or pay more. if I decide to upgrade which I don't foresee, I will pay more then.
If the debt was at 7 or 8 % I would look at it differently, but if I get stuck in the future could alway liquidate my investment savings account open a heloc and pay off the mortgage before renewing, by the time my current loan matures I'll own 1/2 my house so I'll have options
If the house market suddenly drops to 50% I am better off being into my house for a little as possible, Alberta has very few laws that protect the lender if an upside down borrower walks, either way I don't see that coming.
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