Thursday, July 26, 2007

Another Mortgage Milestone...

I posted two weeks ago that we had finally finished paying off the CMHC premium on our mortgage. This meant that the principal on our mortgage was finally below the $316,000 that we "really" borrowed to buy our condo.

Well, the daily interest on the mortgage took our outstanding balance back above $316,000, but with today's payment, we are finally at the point where that will never happen again. From now on, our mortgage balance will do nothing but move down from the $316,000 mark.

This is really just a psychological thing, but it's good to be making real headway on the mortgage.

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