Comment by stevesaldana

You make a good point. Consider making an extra payment on a 30-year fixed-rate mortgage. The "savings" you recognize are not showing up tomorrow, next month, or even five years from now. What you are really doing is shortening the maturity of your loan (knocking off payments at the end of the term). So, in most cases, making extra payments on a mortgage is essentially making a bet on future interest-rates / inflation in years 25-30 from now.