Advice for Upcoming Mortgage Renewal
Just looking for advice so I can get other viewpoints for an upcoming renewal. Want to make sure I'm looking at in through all perspectives.
- renewal coming up in 2 months
- home worth 550k
- remaining mortgage 140k
- bungalow in feeder town to kw
- myself, wife and 3 younger kids (thank God nice open finished basement)
- early 30s
- 170k gross a year... Stable pensions
- 150k in assets in investment portfolio.. About half of that cash...80 k of it in RRSP (damn!)
-mortgage now is about 1000 a month.
Wondering if we go variable?. In seeing some 'black friday' rates that are enticing but usually mean banks foresee BOC lowering rates again.
Do we double down our payments if we lock in and put 2k plus a month down? Or take advantage of cheap money and put that money in our TFSAs in into dividend stocks?
Any advice is appreciated!