something I am grateful for today

Today the Bank of Canada had the chance to raise interest rates and decided not to. So we're holding steady at 1%.

This is good news for us, cuz when we bought our new house the rates were about 2.5% and so our mortgage payments were calculated accordingly. However, we have a variable rate mortgage, and when the rates dropped to 0.25% we kept our payments where they were, even though the interest payable on our mortgage decreased substantially. Meaning we pay off an extra chunk of direct principal every time. (Which for us is biweekly, BTW...)

So the longer the rates stay down, the farther ahead we get at paying off our house. Woot!