I'd pay it off. Some people will advocate playing the spread. I do not. Here is the deal at least in my case. My house is cheap enough and my mortgage was low enough I got no tax write off. I didn't want to dump 100k in last year after a hell of a bull run. My state has HUGE protections for primary residence. It is 100% creditor claim exempt. I could run over a group of lawyers kids drunk while texting and they aren't taking my house.

I'm not using my house for margin. I can leverage with IB at cheaper rates (yeah I know it's callable) or with futures or etfs if I want.

I didn't want my house at risk if a crash came. When do most people lose their jobs? What happens to the market and home prices then? I also personally feel while the market will return decent returns I think a 10% annual rate is way to high. I just don't see it happening. Likewise I see inflation staying low.

Finally and this is what sealed it for me. At my current savings rates if all goes well the spread playing over the next 30 years would let me have about 6% more. I'd have like 2.8 million compared to 2.6 million. If history happens great. If it doesn't whatever.

The peace of mind counts for something. The other thing people forget to take into account is after your home is paid off nothing is stopping you from dumping money into the market. And from my prospective it is a hell of a lot easier to buy and invest when I'm not worried about losing my house.

There is no right or wrong choice. Just depends on you. I'm glad I paid my house. Maybe long term it would have been better off invested. I can tell you though I'm money a head right now.

Also if you ever move and don't pay cash outright you'll relock at whatever the rates are. Best of luck.