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[quote=Anonymous]OP, remember - your loan payment remains stable, so it will be easier to pay off over time due to inflation.

We bought in 1998, then refinanced into another 30 year loan about ten years ago at a 3% interest rate.

Right now, our P+I is approx. $1800.  And that will stay the same as long we own the house.

Compare to that our non-fixed costs of owing the home - insurance, property taxes, utilities, repair.  Even in a low-inflation decade, they have gone up significantly - they were about $600 per month a decade ago, and have gone up to about $900 a month now.

Extrapolate that fifteen years forward, when I expect to be retired, and my P+I will only be about half the cost of owning my home.   Plus I will continue to deduct the interest from my taxes.

And if I need to be able to dip into my home equity, I can do so via HELOC.

So for me, paying off my home is pretty low on my financial to-do list.

You mileage may vary of course, depending upon your risk tolerance, the mortgage interest rate, your other savingts, etc. etc.  But don't take it as a given that you have to pay off your mortgage.

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