I decided to put $500 into the mortgage today. Current balance is $132,056.15.
Good news for our mortgage is that the interest rate should go down further this month. The reserve bank reduced the official rates another 25 basis points, which makes our rate now down to 3.5%. If our bank fully reduces our mortgage rate down another quarter per cent then we might be able to save another $20-25 per month off the interest.
And yesterday was the first NSD for the month, finally!
Extra Mortgage Payment
June 7th, 2012 at 02:49 am