Housing rates have gone from sub 2% to now 6% due to the feds tightening the markets.
Back when rates were 2% they were technically under the 3% fed goal of long-term inflation therefore it was a steal on the mortgage. Nowadays at nearly 6% mortgage rates, I was wondering if it’s better to treat it like a credit card debt and pay it off as fast as possible. Mathematically if I increase payments towards the principal every month I can shave off a couple of years on the rate but that comes at the opportunity cost of investing in the stock market.
I want to hear everyone’s thoughts on this idea.