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When interest rates are low, it is traditionally a great time to borrow funds using your home as collateral, with little concern for paying off a mortgage. A great time to access cheap money for alternative investments, by essentially leveraging the equity in your property. Alternatively when interest rates are low it may be the best time to pay down on a mortgage, as you pay down a greater percentage of principal with each payment made.  This is also a sound strategy. Fortunately there is no right or wrong approach.

There is a third option, a hybrid of the two.  This alternative strategy is to borrow against your house given the low cost of the money available and find an alternative investment for these funds paying a much higher interest rate. The proceeds from this investment would then be applied against the mortgage. In effect you pay off your mortgage much sooner using this strategy. This alternative strategy carries more risk and is not for everyone, but relatively secure investments exist paying a 10%-15% return.

I am happy to discuss with anyone seeking an alternative path and a perfect example of why you want to call me first before you make any decision on your mortgage. I could save you thousands.