just pay the damn thing off and ball out.

Do this.

Assuming you would put that money in the market otherwise, at the current peaks/records we are reaching paying it off is probably the best use of money now imo. At least all signs point that way.

So you're saying with interest at 2.19% vs. 8% portfolio gain is better to pay off mortgage?

The equity market is overvalued and you could be taking a 25%+ haircut during the "next" recession, whenever that happens (probably sooner than later). So yes, as of today I'd feel much better paying off my mortgage at the low interest that it's at than to gamble with a looming recession.

Today, rates went up by 0.25 of a percentage point. Many economists expect the central bank to raise rates by a full percentage point (up to 1.5 per cent) by the end of 2018.

Just got my June statement. My couch potato investments are only up 4.1% this year. Maybe it's time to cash out...

Cashed out late March, early April. Chilling on the sidelines now, wow market timer oh no.

Cashed out late March, early April. Chilling on the sidelines now, wow market timer oh no.

just locked in 2.19 for 2yr...but really contemplated going 3 to 5yr...but damn it don't wanna pay more lol. i've just been flipping cheap 2yr locked in rates for awhile and it seems work out good enough. figure why pay more now when no guarantee shit will go up in the future (it will but very slowly). so meh, will just pay the cheapest 2yr fixed in the future then too.

If there is a trend of rate increase, the future fixed rate is going to be higher than now, no? Wile the 2 years fixed worked for you the last 5-7 years, it may not be in the 2.15% everytime you renew going forward.

i know. that's fine, as since the increases will be so minor 'every 2 yrs' going fwd (at least it has been until now). rates will prob go up a bit more than usual over say the next 10 yrs but meh, not gonna split hairs over calculating the difference.

not to mention i plan to try and pay off mine IN the next 10yrs so fuck dem bank s0n!

I'm getting 2yrs fixed in December and getting rid of this burden ASAP.

Let the firesale of homes begin

How come only 2 years? Just curious as to the strategy.

I'll have it paid off in less than two years if I do nothing.

Rates went up again. 2.79% for two years now.

Fixed and variable rates are just going to go up further, my thought was lock in now vs later when it's higher. I can already get the pre-recent-increase price.

If it makes you sleep better at night then lock in.

Just understand you are accepting to pay a premium out of fear that's not based on anything fundamental. For you to be on the losing end of this mortgage rates would have to go up by half a percent within 2 years (at a quarter you are breaking even).

On Wednesday, as he made his first public comments since July, Poloz said the bank’s decision to raise the rate a second time followed a string of unexpectedly strong economic numbers.

The bank's next scheduled rate announcement is scheduled for Oct. 25.

Before the speech, most analysts had been expecting the central bank to raise the benchmark rate a few more times over the coming year.

currently it's 2.19

Got my 1yr @ 2.79%. 12 months from now, bye-bye mortgage!

Says the guy buying a Lambo

Someone remind me, what's 0.5% of $0 balance?

So you'll end up in Hamilton is what you're saying?

Wife is juuuuuuuuuuuust beginning to look at homes, and ... windowshopping and picking at err-little thang...

Likely look at something close to 407 for her, and GO for me ... Though 401/Leslie/DVP/York Mills is a window-shopping area, given her friend lives 'Hoggs Hollow' area (i.e. 401/Yonge) -- traffic there is a fucking cluster fuck, all the time.

Anything outside of Hamilton is good.

Got my 1yr @ 2.79%. 12 months from now, bye-bye mortgage!

Been listening to a lot of podcasts recently on retirement savings, early retirement, semi-retirement, as I try to figure out what my next 15-20 years may look like. Lots of calculators and spreadsheets about how much to save, and trying to figure out when I can exit the rat race.


As predicted, yesterday was mortgage freedom day.

A new adventure begins.

Been listening to a lot of podcasts recently on retirement savings, early retirement, semi-retirement, as I try to figure out what my next 15-20 years may look like. Lots of calculators and spreadsheets about how much to save, and trying to figure out when I can exit the rat race.


As predicted, yesterday was mortgage freedom day.

A new adventure begins.

The future looks to be that we're selling the Makham home, and moving on towards Burlington/Oakville area next summer ... and the wife needs to pick up some training on cash flow, etc. Cuz if not, we're gonna be house-poor ...

As my mortgage comes up for renewal in Jan 2019, gotta figure out wtf to do, i.e. looks like we may either jump ship from CIBC, and/or get a larger mortgage for another home, etc... From the basic intel I got, in any case I'm looking at paying some kind of early termination fee, even if I did a 1-yr open etc...

Are you on the CIBC Home Power Plan?

Congratulations! Im sure the bank must really hate you now.

That's amazing man, huge accomplishment imo especially if you are still in your 30's. Hope to join the club soon.

As far as FIRE calcs, I think the 4% withdrawal rule would suit you well.

Yeah man congrats - now you have true freedom! If you loose your job tomorrow you don't have to worry about those banks coming looking for their interest payments.

Keep saving like you were before and don't spend the "new" money and your savings should grow nicely.

Congrats, great accomplishment!