If mortgages have be come cheap beause of Interest payment s shouldN`they start to pay off the principal?

That is just what is happening. People are doing this.If mortgages have be come cheap beause of Interest payment s shouldN`they start to pay off the principal?
If anyone has real sense then yes, they will keep their payments high and apply it to reducing the principal rather than using the extra cash for other things. The low interest won't last for very long but while it does, it is a real opportunity to get ahead and develop some equity.If mortgages have be come cheap beause of Interest payment s shouldN`they start to pay off the principal?
Definitely pay off as much as you can as quickly as you can. I had a mortgage @ 15.25% back in the early 80's - paid the darn thing off in full over 4 yrs. Get the monkey off yr back no matter what the interest rate happens to be. You will have saved bucket loads of cash that can be used for other purposes. Why pay more than you have to?
Yes





WHEN you refinance your mortgage to a lower rate AND you pay the same dollar amount as you did with higher interest payment





THEN the payment will go to the principal more and eventually you can pay off the mortgage sooner than first scheduled.