Mortgage paydown vs invest

What this is

If you have extra money each month — pay off the house faster or invest it?

A direct comparison. Paying off the mortgage gives a guaranteed return = mortgage rate. Investing gives a probable return that depends on the market. Higher expected return + tax-sheltered account = invest tilts the math; high mortgage rate + risk-averse personality = paydown wins.

• ·Paydown return = mortgage rate. Guaranteed. Risk-free. ~5% in 2026 fixed-rate land.
• ·Invest return = expected market return (usually 6-7%) in an RRSP/TFSA (tax-sheltered).
• ·Net difference is usually small. The bigger factor is sleep: most Canadians prefer the certainty of a paid-off house.