22 February 2011
Of course, it’s always necessary to consult a professional in order to see what will work in your case. If you’re sure that your after-tax equivalent in the RRSP will bring you more income than you need for mortgage interest payments (3,79%), then it’s better to repay your HBP faster. If you’re not, making additional mortgage payments may be the right choice.
There’s no general advice for everyone, so don’t hurry making up such serious decisions – please, contact your mortgage broker and save your money.