Paying down your mortgage faster, Pt 2

Recently, I wrote about mortgage prepayments.

In his year end review, Get Rich Slowly highlights his 10 best posts of the year, and this one caught my eye.

Although the US system is different than Canada's, this post offers an excellent explanation of the benefits of making prepayments to your mortgage.

(I found the interest rate examples high. Then I remembered I have a variable rate mortgage.

Have a look at current mortgage rates from my bank. See the variable rates? Prime is 3.5% currently, so that makes the rates 4.5% for open, 4.3% closed. What a deal!)