<prompt> Human: No other debt, 200kyear household income, both jobs extremely stable.Wouldnt it be smarter to put the money into CDs earning a little interest then wipe out the mortgage once weve saved up enough? If I understand it correctly overpayments sent to the bank do not mitigate any interest.  <response>: Every dollar you put towards your mortgage on top of your minimum payment will save you whatever your interest rate is. Overpayments DO mitigate interest. Just make sure the payments are applied to your mortgage principal.Because of this, it is usually much better to pay extra towards your mortgage as soon as you can. 