[Alberta's Child]

Most financially astute people will tell you never to pay off your mortgage ahead of time if it has a very low interest rate. This is even more applicable if you are itemizing your tax deductions and the mortgage interest is tax deductible.

[woodbutcher1963]

That is not correct anymore. When you get to the end of your mortgage you are paying 80% principal or more. Only 10%-20% interest. The tax benefit is minimal. The last year or two I had a mortgage my CPA said we were better off taking the standard deduction as opposed to itemizing. That includes the fact that my real estate taxes are $9400/year.

The only argument you could make is that you are better investing the money in something like the stock market, 5% TBills or Money Markets/CDs.
Yes, I sure wish I had bought INVIDIA as opposed to paying off my 2.375% mortgage.

[PeterPrinciple]

Most financially astute people will tell you never to pay off your mortgage ahead of time if it has a very low interest rate. This is even more applicable if you are itemizing your tax deductions and the mortgage interest is tax deductible.

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With the high standard deduction there is a good chance that is not true. Pay it off and take the standard.

The article is right, there are pros and cons, AND THE DECISION IS PARTICULAR to the situation.