When is the best time to pay down my mortgage? When the interest rates are up or down?
I take it you do not have a fixed rate mortgage loan. If so, it wouldn’t matter in the sense of what interest rates are doing. Other than if you invested the money rather than pay down your principal, would you get more investment income than you would save during the life of the loan. At this time when investments are paying such a poor return, it might be wise to pay down your mortgage principal. Of course, some might say that now is the time to buy into investments because prices are low. You can get more shares for your money than when the markets begin to recover. Although, you may see no gain for some time. If you have an adjustable rate mortgage loan remember that regardless of the interest rate, you will designate that the extra money you are paying goes to the principal. If interest rates lower, you can continue making the same amount of mortgage payment and designate the extra to prinicipal. In that way you will be lowering your principal every month without increasing your m
