Quote:
Originally Posted by Reaper
And mine's up December 2024 so I'm right there with you. I know I probably won't get a 1.43% fixed mortgage like I have now but I'm really hoping that interest rates chill tf out and sit tf down by then.
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Hmm... Mines up in December 2024 as well. I'm seriously discussing with the spouse about getting aggressive and aiming to pay off the entire mortgage in 5-8 years. My last annual statement showed I was paying $15K in interest to the bank for that year. I'd be absolutely livid to see it go down to $10K by 2024 and then spike right back up to $20K+ after renewal. That's a #### ton of money.
Forget the opportunity cost with investing the difference, I'll take the bird in the hand, especially if some of the future outlooks are a little uncertain. I can do a lot with an extra $5-20K that isn't paid to the bank and if I do not have regular mortgage payments (Approx $30K after tax cash flows). Short term pain for long term gain. I can always HELOC up in the future if I want cheap debt.