>> “But why not invest that cash in the market and make 10, 11% returns on it?”
tax on gains, but also deductibles on the mortgage interest so the margins and risks will vary
Well, if you can find somewhere to get that rate it may work, but.......
“... deductibles on the mortgage interest ...”
Mortgage interest is only deductible if one itemizes on their Fed Tax forms. Itemization requires substantial expenditures in many areas such as medical, etc. Absent major financial outlays, the standard deduction is usually a better option.
Most homeowners find the standard deduction is higher than the result of itemization hence mortgage interest is of no value for Fed tax purposes.
So pay off your mortgage and invest in higher yield products. Also put your assets into a trust and contribute to it’s value. Your kids will thank you. And if they follow your example, your family can build generational wealth.