Right now homeowners are being blasted with bad news, rising rates and are hyper-aware of increasing costs. We want to bring our audience content focused on actionable steps they can take to improve their financial outlook and to take control. The goal is a positive message that will stand out in today's negative environment.

Here are two ways Canadian's can save six figures on their mortgage

1) Accelerated Biweekly Payments

There is an old adage that comes to mind - “slow is steady and steady is fast”. This sums up a trick you can use to reduce your mortgage cost by roughly 15% to save over $10,000 per $100,000 you owe on your mortgage.

Some of the best shortcuts in life are simple and this powerful result is achieved by making accelerated biweekly mortgage payments. If you have any questions about this or need help setting it up let me know, I can connect you with one of the top experts in Canada.

2) Creating New Tax Deductions

As Benjamin Franklin famously said, “in this world nothing can be said to be certain, except death and taxes”. With this in mind if we can create extra tax deductions by making our mortgage tax deductible this can mean saving thousands in taxes every year.

On a $400,000 mortgage at 5% interest, you pay over $18,000 in interest the first year of your mortgage. Imagine getting $3600 to $9000 of that interest back every single year! Some would say that being able to write off the interest on your mortgage is a silver lining to interest rates rising.