A quick dive into the numbers, specifically the interest paid.
In January 2021, I was paying about $11 a day in interest on a $201k mortgage balance (1.89%).
I was paying as much as $14.40 a day back in 2018. The decrease was largely due to the paydown in principle amount.
After the lapse in my fixed interest (1.89%) loan in December 2021, there was a short transition period before the floating interest loan kicked in. During this time, I paid about $8 a day in interest on a $184k mortgage balance (1.63%).
When I refinanced my mortgage, I also did a prepayment of $20k. The reduced principle ($164k) meant I paid about $7 a day. Woohoo! This is half what I paid in 2018.
In December 2021, I was paying about $5 a day in interest (1.1%). See the difference.
I know interest rate is going up anytime. Hopefully later than sooner.
Fingers crossed.