Mortgage interest rates remain at record lows and are expected to remain low for another year. 

Would it make good financial sense for me to consider refinancing at this time before rates increase to:

  1.   Make an RRSP Investment. Always a good choice. You are investing in your future and creating a tax deductible expense, which is a win-win.

2.   Pay down some higher interest debt. This will save you a lot of interest and lower your monthly payments. The extra cash flow can be used to invest in RRSPs, make extra payments on your mortgage, or just relieve a lot of stress – all good reasons.

3. Invest in a TFSA -  This is an excellent choice for that comfort of having those emergency funds available for those unexpected expenses that may come up.   The interest earned is non-taxable and funds can be withdrawn anytime without any tax liability.  

3.   Renew my mortgage early. Does it make sense to take advantage of today’s lower rates and have peace of mind for the next five or ten years?

Call me any time and I would be happy to look at your options to see if refinancing is a good choice for you.